Lead Member – Councillor David Minnery – Portfolio Holder for Finance.

Report of the Head of Finance, Governance and Assurance [s151 Officer]

Contact: James Walton      Tel: 01743 255011

RESOLVED:

i.      That it be noted that at the end of Quarter 3 (31 December 2017), the full year revenue forecast is a potential underspend of £0.059m;

ii.    That the impact of this on the Council’s General Fund balance be considered.

iii.   That net budget variations of £10.073m to the 2017/18 capital programme be approved, detailed in Appendix 3/Table 6, and the re-profiled 2017/18 capital budget of £58.276m.  Variations include revenue contributions of £0.132m towards school projects and Community Library Schemes and a reduction in HRA revenue contributions of £1.249m.

iv.   That re-profiled capital budgets of £46.290m for 2018/19, £7.487m for 2019/20 and £0.667m for 2020/21, be approved as detailed in Appendix 3/Table 9.

v.    That the capital expenditure to date of £37.655, representing 65% of the revised capital budget for 2017/18, with 75% of the year having elapsed, be accepted.

The Portfolio Holder for Finance presented a report from the Head of Finance, Governance and Assurance [s151 Officer] detailing the projected revenue expenditure for the whole of 2017/18 as at Quarter 3.

Responding to a Member’s query, the Head of Finance, Governance and Assurance stated that he would confirm whether or not the difference in the Adult Services budgets in Quarter 2 and Quarter 3 was the result of a budgetary adjustment within those areas.

     Referring to the new delivery model for Early Help Services, the Portfolio Holder for Children and Young People refuted a Member’s comments and stated that            a great deal of publicity had taken place both on the Council’s website and in the local media.

RESOLVED:

i.      That it be noted that at the end of Quarter 3 (31 December 2017), the full year revenue forecast is a potential underspend of £0.059m;

ii.    That the impact of this on the Council’s General Fund balance be considered.

iii.   That net budget variations of £10.073m to the 2017/18 capital programme be approved, detailed in Appendix 3/Table 6, and the re-profiled 2017/18 capital budget of £58.276m.  Variations include revenue contributions of £0.132m towards school projects and Community Library Schemes and a reduction in HRA revenue contributions of £1.249m.

iv.   That re-profiled capital budgets of £46.290m for 2018/19, £7.487m for 2019/20 and £0.667m for 2020/21, be approved as detailed in Appendix 3/Table 9.

v.    That the capital expenditure to date of £37.655, representing 65% of the revised capital budget for 2017/18, with 75% of the year having elapsed, be accepted.