Issue - meetings

[To provide a projection of the likely revenue outturn position for the General Fund and Housing Revenue Accounts when compared with the Council’s approved revenue budgets for 2020-2021]

1.      That the use of £20,000 from the Regeneration Reserveto fund feasibility and valuation work at i54 Western Extension as detailed in paragraph 5.4 of the report be approved.

2.      That the use of £942,000 from the Licensing Reserve in line with Licensing Committee approvals as detailed at paragraph 5.5 in paragraph 5.4 of the report be approved.

3.      That the use of £98,000 from the Recovery Reserve to fund a project team for the Kickstart Work Experience Programme, as detailed at paragraph 5.6 of the report and in also in the ‘Kickstart Work Experience Programme’ report presented to Cabinet (Resources) Panel at this meeting be approved.

4.      That the establishment of supplementary expenditure budgets within the 2020-2021 approved budget as detailed in section 6.0 of the report for grant funded expenditure be approved.

5.      That the 29 virements totalling £9.7 million, for transfers within directorates, as detailed in Appendix 4 to the report be approved.

6.      That the write-off of eight Non-Domestic Rates (NDR) debts totalling £85,898.47 as detailed in Appendix 5 to the report be approved.

7.      That the write-off of three Council Tax debts totalling £21,112.96 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 2020-2021 is forecast to a break-even outturn position, after a forecast contribution to reserves, excluding the impact of Covid-19. 

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

10. That it be noted that a £9.9 million surplus on the Housing Revenue Account (HRA) is projected compared with a budgeted surplus of £10.8 million as shown at Table 20 and in detail at Appendix 3 to the report. The projected reduction to the surplus of £915,000 would reduce redemption of debt by £915,000.

11. That it be noted that 74 sundry debt accounts totalling £39,830.63, as detailed in paragraph 9.3 of the report, have been approved for write-off by the Director of Finance in accordance with the Council’s Financial Procedure Rules.

12. That it be noted that 1,215 council tax accounts totalling £441,438.14, as detailed in paragraph 9.5 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 70 Non-Domestic Rates (NDR) debts totalling £257,198.94, as detailed in paragraph 9.6 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 16 housing benefit overpayments totalling £4,098.69 as detailed in paragraph 9.10 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 8 debts relating to Business Improvement District (BID) totalling £3,516.00, as detailed in  ...  view the full decision text for item 5

Councillor Louise Miles reported on the salient points of the Revenue Budget Monitoring report which provided a projection of the likely revenue outturn position for the General Fund and Housing Revenue Account when compared with the Council’s approved revenue budgets for 2020-2021, and the projected financial implications of the Covid-19 pandemic.

Resolved:

1.    That the use of £20,000 from the Regeneration Reserveto fund feasibility and valuation work at i54 Western Extension as detailed in paragraph 5.4 of the report be approved.

2.    That the use of £942,000 from the Licensing Reserve in line with Licensing Committee approvals as detailed at paragraph 5 of the report be approved.

3.    That the use of £98,000 from the Recovery Reserve to fund a project team for the Kickstart Work Experience Programme, as detailed at paragraph 5.6 of the report and in also in the ‘Kickstart Work Experience Programme’ report presented to Cabinet (Resources) Panel at this meeting be approved.

4.    That the establishment of supplementary expenditure budgets within the 2020-2021 approved budget as detailed in section 6.0 of the report for grant funded expenditure be approved.

5.    That the 29 virements totalling £9.7 million, for transfers within directorates, as detailed in Appendix 4 to the report be approved.

6.    That the write-off of eight Non-Domestic Rates (NDR) debts totalling £85,898.47 as detailed in Appendix 5 to the report be approved.

7.    That the write-off of three Council Tax debts totalling £21,112.96 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 2020-2021 is forecast to a break-even outturn position, after a forecast contribution to reserves, excluding the impact of Covid-19. 

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

10.That it be noted that a £9.9 million surplus on the Housing Revenue Account (HRA) is projected compared with a budgeted surplus of £10.8 million as shown at Table 20 and in detail at Appendix 3 to the report. The projected reduction to the surplus of £915,000 would reduce redemption of debt by £915,000.

11.That it be noted that 74 sundry debt accounts totalling £39,830.63, as detailed in paragraph 9.3 of the report, have been approved for write-off by the Director of Finance in accordance with the Council’s Financial Procedure Rules.

12. That it be noted that 1,215 council tax accounts totalling £441,438.14, as detailed in paragraph 9.5 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 70 Non-Domestic Rates (NDR) debts totalling £257,198.94, as detailed in paragraph 9.6 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 16 housing  ...  view the full minutes text for item 5