Decision details

To receive a projection of the likely revenue outturn position for the General Fund and Housing Revenue Accounts, compared with the Council’s approved revenue budgets for 2019-2020.

1.       That the use of £40,000 from the Regeneration Reserveto fund feasibility works for regeneration schemes as detailed at paragraph 4.4. of the report be approved.

2.       That the use of £462,000 from the Transformation Reserve to fund various transformational work as detailed at paragraph 4.5. of the report be approved.

3.       That the use of £303,000 from the Budget Contingency Reserve to fund an endowment with Land Trust to facilitate long term land management at Bilston as detailed at paragraph 4.6. of the report be approved.

4.       That the use of £178,000 from the Budget Contingency Reserve to fund increased academy conversion deficit as detailed in paragraph 4.7. of the report be approved.

5.       That 31 virements totalling £19.5 million, for transfers within directorates, as detailed in Appendix 4 to the report be approved.

6.       That the write off of three Non-Domestic Rates (NDR) debts totalling £26,431.85 as detailed in Appendix 5 to the report be approved.

7.       That the write off of three Council Tax debts totalling £19,746.63 as detailed in Appendix 6 to the report be approved.

8.       That it be noted that the overall projected outturn for the General Fund for 2019-2020 is forecast to be an overspend in the region of £1.6 million. 

9.       That it be noted that at this stage in the financial year it is difficult to forecast redundancy costs.  However, based on recent years it is anticipated that the cost of redundancies can be met from reserves.

10.   That it be noted that a £20.7 million surplus on the Housing Revenue Account (HRA) is projected compared with a budgeted surplus of £20.9 million as shown at Table 18 and in detail at Appendix 3 to the report. The projected reduction to the surplus of £215,000 would reduce redemption of debt by £215,000.

11.   That it be noted that 24 sundry debt accounts totalling £47,614.60, as detailed in paragraph 7.3 of the report, have been approved by for write off by the Director of Finance in accordance with the Council’s Financial Procedure Rules.

12.   That it be noted that 564 council tax accounts totalling £276,449.18, as detailed in paragraph 7.5 of the report, have been approved for write off by the Director of Finance in accordance with the Council’s Financial Procedure Rules.

13.   That it be noted that 52 Non-Domestic Rates (NDR) debts totalling £203,067.62, as detailed in paragraph 7.6 of the report, have been approved for write off by the Director of Finance in accordance with the Council’s Financial Procedure Rules.

14.   That it be noted that 69 housing benefit overpayments totalling £25,566.57, as detailed in paragraph 7.10 of the report, have been approved for write off by the Director of Finance in accordance with the Council’s Financial Procedure Rules.

15.   That it be noted that six debts relating to Business Improvement District (BID) totalling £1,703.94, as detailed in paragraph 7.7 of the report, have been approved for write off by the Director of Finance in accordance with the Council’s Financial Procedure Rules.