Agenda item

Revenue Budget Monitoring 2016/17

[To receive an update on the Council’s revenue budget monitoring 2016/17]

Minutes:

Cllr Andrew Johnson outlined the salient points of the report on 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 2016/17.

 

Resolved:

1.     That the use of £100,000 from the Transformation Reserve to fund various transformation priorities as detailed at section 5.2.2 of the report be approved.

 

2.     That the use of £2.6 million from the Efficiency Reserve to fund various efficiency priorities as detailed at section 5.2.3 of the report be approved.

 

3.     That the reinvestment of £500,000 surplus generated through Bus Lane enforcement into the Highways Management Reserve be approved.

 

4.     That the use of £500,000 from the Future Works Reserve to fund the Milestone 6 Agresso upgrade be approved.

 

5.     That the use of £50,000 from the Job Evaluation Reserve to meet the cost of back pay for lunchtime supervisory assistants be approved.

 

6.     That the write off of seven sundry debts totalling £74,469.36 as detailed in Appendix F to the report be approved.

 

7.     That the 18 virements totalling £3.4 million, for transfers within service directorates, as detailed in Appendix G to the report be approved.

 

8.     That the setting up of expenditure budgets within the 2016/17 approved budget as detailed in section 4.2 of the report for grant funded expenditure be approved.

 

9.     That the recovery of £85,000 from Penn Hall School as detailed in section 7.6.2 of the report be approved.

 

10.That authority be delegated to the Cabinet Member for Education in consultation with the Director of Education and the Director of Finance for the approval of licensed deficits as detailed in section 7.7.1. of the report.

 

11.That it be noted that the projected outturn for the General Fund for 2016/17 is on target to achieve a net balanced position. 

 

12.That it be noted that projected redundancy costs, including the cost of pension strain, totalling £7.0 million are included in the forecast outturn. The projected costs are subject to change dependent upon the actual redundancies approved by year end. It is anticipated that forecast underspends against the Central Provision for Auto-enrolment and Pay Award costs and the Corporate/Transformation Budgets and contingencies, in addition to Capital Receipts flexibility announced by the Secretary of State, would offset the cost of redundancies.

 

13.That it be noted that 149 sundry debt accounts totalling £63,581.16 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 292 council tax accounts totalling £94,355.99 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 27 non domestic rates accounts totalling £108,642.70 have been approved for write off by the Director of Finance in accordance with the Council’s Financial Procedure Rules.

 

16.That it be noted that 47 housing benefit accounts totalling £6,881.50 have been approved for write off by the Director of Finance in accordance with the Council’s Financial Procedure Rules.

 

17.  That it be noted that a £18.4 million surplus on the Housing Revenue account (HRA) is projected compared with a budgeted surplus of £15.3 million as shown at Table 7 and in detail at Appendix H. The projected increased surplus of £3.1 million would be used to redeem debt in line with the HRA Business Plan.

Supporting documents: