Issue - meetings

Cabinet Members' Items - Report of the Finance and Corporate Services Portfolio Holder - A.13 - Corporate Budget Monitoring Report for the Second Quarter of 2017/18

 

 

Meeting: 10/11/2017 - Cabinet (Item 105)

105 Cabinet Members' Items - Report of the Finance and Corporate Services Portfolio Holder - A.13 - Corporate Budget Monitoring Report for the Second Quarter of 2017/18 pdf icon PDF 279 KB

To provide an overview of the Council’s actual financial position against the budget as at the end of September 2017.

Additional documents:

Decision:

(a)         the financial position, as at the end of September 2017, be noted;

 

(b)         in respect of the 2017/18 budget, the central agency staff budget be increased by £0.150m funded by a transfer from the associated vacancy savings accrued to the end of September 2017; and

 

(c)         in respect of the Council’s Treasury Management practices, the aggregate amount of money that can be placed overnight with the Council’s bankers be increased temporarily from £1.000m to £1.500m for each day the Council Offices are closed over the Christmas break.

 

Minutes:

There was submitted a detailed report and appendices by the Portfolio Holder for Finance and Corporate Resources (A.13), which provided Cabinet with an overview of the Council’s actual financial position against the budget as at the end of September 2017 (Quarter Two).

 

Cabinet was informed that some of the information that was set out in the appendices had been refreshed for 2017/18 and that separate appendices were no longer included for the significant income streams and council tax and business rate information.

 

The overview covered the following areas of the budget:-

 

(1)       General Fund Revenue;

(2)       Expenditure Budgets;

(3)       Income Budgets;

(4)       Delivery of Savings 2017/18;

(5)       2017/2018 Budget Adjustments and Other Issues;

(6)       Housing Revenue Account – Revenue;

(7)       Capital Programme – General Fund;

(8)       Capital Programme – Housing Revenue Account;

(9)       Collection Performance; and

(10)    Treasury Activity.

 

Having considered the report and appendices, it was moved by Councillor G V Guglielmi, seconded by Councillor McWilliams and RESOLVED that:

 

(a)       the financial position, as at the end of September 2017, be noted;

 

(b)       in respect of the 2017/18 budget, the central agency staff budget be increased by £0.150m funded by a transfer from the associated vacancy savings accrued to the end of September 2017; and

 

(c)           in respect of the Council’s Treasury Management practices, the aggregate amount of money that can be placed overnight with the Council’s bankers be increased temporarily from £1.000m to £1.500m for each day the Council Offices are closed over the Christmas break.