Agenda item

[To approve matters relating to the 2017/18 revenue budget as at the end of the first quarter]

1.       That the use of £28,000 from the Regeneration Reserve to fund various development works and schemes as detailed at paragraph 5.2.2 of the report be approved.

2.       That the use of £103,000 from the Library Equipment Reserve to support the Libraries transformation improvements following the consultation exercise be approved.

3.       That the use of £351,000 from the Transformation Reserve to fund various development works and schemes as detailed at paragraph 5.2.4 of the report be approved.

4.       That the use of £1.7 million from the Budget Contingency Reserve to fund budget pressures within Contracts service in Public Health and Wellbeing be approved.

5.       That the write off of two Non-Domestic Rates (NDR) debts totalling £12,252.96 as detailed in Appendix F to the report be approved.

6.       That the write off of two housing benefit overpayments totalling £15,465.29 as detailed in Appendix G to the report be approved.

7.       That the write off of three sundry debts totalling £37,393.22 as detailed in Appendix H to the report be approved.

8.       That thirteen virements totalling £5.5 million, for transfers within directorates, as detailed in Appendix I to the report be approved.

9.       That setting up of expenditure budgets within the 2017-2018 approved budget as detailed in paragraph 4.2 of the report for grant funded expenditure be approved.

10.   That it be noted that the overall projected outturn for the General Fund for 2017-2018 is an overspend in the region of £2.1 million. All services would be asked to deliver further in year savings in order to address the projected overspend.

11.   That it be noted that projected redundancy costs, including the cost of pension strain, totalling £2.9 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 Capital Receipts flexibility announced by the Secretary of State, would offset the cost of redundancies.

12.   That it be noted that 958 council tax accounts totalling £242,023.55 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 53 Non-Domestic Rates (NDR) debts totalling £469,803.06 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 58 sundry debt accounts totalling £62,890.87 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 34 housing benefit overpayments totalling £9,354.30 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 a £17.3 million surplus on the Housing Revenue Account (HRA) is projected compared with a budgeted surplus of £16.8 million as shown at Table 9 and in detail at Appendix J to the report. The projected increased surplus of £458,000 would be used to redeem debt in line with the HRA Business Plan.

Cllr Andrew Johnson presented the report on the projection of the likely revenue outturn position for the General Fund and Housing Revenue Accounts, compared with the Council’s approved revenue budgets for 2017/18.  He reported that it was early in the financial year but the monitoring information showed that there were considerable budget pressures that the Council would have to address. The revenue outturn position for 2017/18 was currently forecast to be an overspend in the region of £2.1 million. This primarily had arisen as a result of budget pressures on the Waste and Recycling service budget totalling £1.7 million. All services had been asked to look at further in year savings that could be made in order to address the projected overspend.  The forecast outturn position for the Housing Revenue Account (HRA) showed better news with a surplus of £17.3 million projected, compared to a budgeted surplus of £16.8 million. The projected additional surplus of £458,000, which was mainly due to a forecast underspend on interest payable, would be used to redeem debt to comply with the Council’s approved HRA Business Plan.

Resolved:

1.     That the use of £28,000 from the Regeneration Reserve to fund various development works and schemes as detailed at paragraph 5.2.2 of the report be approved.

2.     That the use of £103,000 from the Library Equipment Reserve to support the Libraries transformation improvements following the consultation exercise be approved.

3.     That the use of £351,000 from the Transformation Reserve to fund various development works and schemes as detailed at paragraph 5.2.4 of the report be approved.

4.     That the use of £1.7 million from the Budget Contingency Reserve to fund budget pressures within Contracts service in Public Health and Wellbeing be approved.

5.     That the write off of two Non-Domestic Rates (NDR) debts totalling £12,252.96 as detailed in Appendix F to the report be approved.

6.     That the write off of two housing benefit overpayments totalling £15,465.29 as detailed in Appendix G to the report be approved.

7.     That the write off of three sundry debts totalling £37,393.22 as detailed in Appendix H to the report be approved.

8.     That thirteen virements totalling £5.5 million, for transfers within directorates, as detailed in Appendix I to the report be approved.

9.     That setting up of expenditure budgets within the 2017-2018 approved budget as detailed in paragraph 4.2 of the report for grant funded expenditure be approved.

10.That it be noted that the overall projected outturn for the General Fund for 2017-2018 is an overspend in the region of £2.1 million. All services would be asked to deliver further in year savings in order to address the projected overspend.

11.That it be noted that projected redundancy costs, including the cost of pension strain, totalling £2.9 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 Capital Receipts flexibility announced by the Secretary of State, would offset the cost of redundancies.

12.That it be noted that 958 council tax accounts totalling £242,023.55 have been approved for write off by Director of Finance in accordance with the Council’s Financial Procedure Rules.

13.That it be noted that 53 Non-Domestic Rates (NDR) debts totalling £469,803.06 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 58 sundry debt accounts totalling £62,890.87 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 34 housing benefit overpayments totalling £9,354.30 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 a £17.3 million surplus on the Housing Revenue Account (HRA) is projected compared with a budgeted surplus of £16.8 million as shown at Table 9 and in detail at Appendix J. The projected increased surplus of £458,000 would be used to redeem debt in line with the HRA Business Plan.