Issue - meetings

Report of Councillor P Kerry, Deputy Leader of the Council and Portfolio Holder for Strategic Leadership and Finance

RESOLVED – That Cabinet noted the content of the report.

REASONS FOR DECISION – The report summarises the financial position of the Council following the first quarter’s budget monitoring exercise for the General Fund, the Housing Revenue Account and Capital Programme.

OTHER OPTIONS CONSIDERED AND REJECTED – This report is concerned with monitoring the position against the Council’s previously approved budget. Accordingly, the report does not set out anyoptions where a decision is required by Members.

Please note that this was not a Key Decision and so can be implemented with immediate effect by officers.

Members were updated with the financial position of the Council. The underspend against the budget was detailed, along with the income which had been received from planning fees. There were a few variances noted on the HRA, along with the details of the capital expenditure on a case-by-case basis. The town centre regeneration costings at Clay Cross were explained along with other key details.

The overspend of other income spends were explained, with the finances and resources directive being explained as being lower than expected. It was highlighted that utility costs were slightly down. The pay claim was explained in relation to a cost to the budget, and funding streams were discussed and clarified.

Members noted that it was a positive report with the underspend captured. It was good news that no funds need to be taken from the resilience fund.

RESOLVED – That Cabinet noted the content of the report.

REASONS FOR DECISION – The report summarises the financial position of the Council following the first quarter’s budget monitoring exercise for the General Fund, the Housing Revenue Account and Capital Programme.

OTHER OPTIONS CONSIDERED AND REJECTED – This report is concerned with monitoring the position against the Council’s previously approved budget. Accordingly, the report does not set out anyoptions where a decision is required by Members.