Issue - meetings

Q1 Financial Report

 

 

Meeting: 18/09/2018 - Cabinet (Item 92)

92 Q1 Financial Report pdf icon PDF 145 KB

Additional documents:

Decision:

RESOLVED TO RECOMMEND;

 

 

  1. That the revised capital programme to move slippage identified at Quarter 1 into financial year 2019/20 as detailed in Appendix C be approved.

 

  1. That the draw down of reserves previously agreed by Cabinet be approved. Details are set out below:

 

  • Draw down £165k from Capital Development reserve to fund Development Company (DevCo) phase 1 costs incurred.

 

  • Draw down £70k from On-Street Car Parking reserves to cover costs of ongoing parking zone consultation.

 

 

  1. That the supplementary capital budgets be approved.

 

  • Capital budget of £15k for Gadebridge Park Walled Garden irrigation system

 

  • Capital budget of £34k for Warners End Community Centre heating and door improvement works

 

  1. That the virements detailed in Appendix D be approved:

 

  • Virement to transfer the budget for the debt recovery function from Legal Services to Financial Services

 

  • Virement for the purpose of realigning capital budgets in order to deliver recycling facilities at flats

 

  • Virement for the purpose of realigning the car parking budget to reflect new cashless parking system

 

 

 

Minutes:

Decision

 

RESOLVED TO RECOMMEND;

 

 

  1. That the revised capital programme to move slippage identified at Quarter 1 into financial year 2019/20 as detailed in Appendix C be approved.

 

  1. That the draw down of reserves previously agreed by Cabinet be approved. Details are set out below:

 

  • Draw down £165k from Capital Development reserve to fund Development Company (DevCo) phase 1 costs incurred.

 

  • Draw down £70k from On-Street Car Parking reserves to cover costs of ongoing parking zone consultation.

 

 

  1. That the supplementary capital budgets be approved.

 

  • Capital budget of £15k for Gadebridge Park Walled Garden irrigation system

 

  • Capital budget of £34k for Warners End Community Centre heating and door improvement works

 

  1. That the virements detailed in Appendix D be approved:

 

  • Virement to transfer the budget for the debt recovery function from Legal Services to Financial Services

 

  • Virement for the purpose of realigning capital budgets in order to deliver recycling facilities at flats

 

  • Virement for the purpose of realigning the car parking budget to reflect new cashless parking system

 

Corporate objectives

Delivering an efficient and modern council.

Monitoring Officer/S.151 Officer comments

No comments to add to the report

 

S.151 Officer:

The comments were included within the body of the report.

Advice

Councillor Elliot introduced the report. Currently, there was a forecast pressure of £719k which mainly came under three areas: waste recycling pressure of £500k, building control service pressure of £200k and garage income pressure of £160k. It is predicted that the waste income will improve over the financial year with a rise in commodity prices. The building control pressure comes from increased costs of agency staff but a reduced income. The garage income pressure is linked to a budgeting matter and steps are being taken to reduce this pressure.

Councillor Harden said the portfolio holder seemed quite positive that the £500k pressure would improve. He asked if there was any indication of the figures at the end of year?

N Howcutt said there has been some modelling projection that shows a £200k drop in pressure

Voting

None.