Agenda item

Revenue Budget Monitoring

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

Decision:

1.       That the use of £735,000 from the Regeneration Reserve to fund various development works and schemes as detailed at paragraph 5.4 of the report be approved.

 

2.       That the use of £8,000 from the Community Initiatives and Crowdfund Wolves Reserve to community led projects in the City as detailed at paragraph 5.5 of the report be approved.

 

3.       That the use of £5,000 from the Art Gallery Touring Exhibitions Reserve to support the costs of touring exhibitions as detailed at paragraph 5.6 of the report be approved.

 

4.       That the use of £4.3 million from the Adult Social Care Reserve to address in year forecast pressures across Adult Services as detailed at paragraph 5.7 of the report be approved.

 

5.       That the use of £500,000 from the Highways Management Reserve and to support Highways and Transportation projects and programmes as detailed in paragraph 5.8 of the report be approved.

 

6.       That the use of £135,000 from the Efficiency Reserve to fund Business Support Programme as detailed at paragraph 5.9 of the report be approved.

 

7.       That the use of £19,000 from the Transformation Reserve to fund library transformation programme for Finchfield and Central Libraries as detailed in paragraph 5.10 of the report be approved.

 

8.       That the contribution of £147,000 from ICTS to the Transformation Reserve to accommodate one off revenue costs of the OLM project going live in 2020-2021 as detailed in paragraph 5.11 of the report be approved.

 

9.       That the use of £122,000 from the Budget Contingency Reserve to fund academy conversion deficit as detailed in paragraph 5.12 of the report be approved.

 

10.   That 21 virements totalling £9.5 million, for transfers within directorates, as detailed in Appendix 4 of the report be approved.

 

11.   That a virement totalling £4.1 million, for transfers within the Housing Revenue Account, as detailed in paragraph 9.6 of the report be approved.

 

12.   That the establishment of supplementary expenditure budgets within the 2019-2020 approved budgets as detailed in paragraph 4.0 of the report for grant funded expenditure be approved.

 

13.   That a grant payment to The Way Youth Zone in 2019-2020 as detailed in paragraph 4.3 of the report be approved.

 

14.   That the write off of nine Non-Domestic Rates (NDR) debts totalling £85,990.09 as detailed in Appendix 5 to the report be approved.

 

15.   That the write off of four Council Tax debts totalling £27,623.83 as detailed in Appendix 6 of the report be approved.

 

16.   That the write off of five sundry debts totalling £66,544.02 as detailed in Appendix 7 to the report be approved.

 

17.   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 £2.2 million. 

 

18.   That it be noted that this position is not untypical at this point in the financial year. The forecast overspend is largely attributable to demand led services.  It is important to note that it is early in the financial year, and all services would be asked to deliver further in year savings in order to address the projected overspend.

 

19.   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.

 

20.   That it be noted that a £21.1 million surplus on the Housing Revenue Account (HRA) is projected compared with a budgeted surplus of £16.9 million as shown at Table 20 and in detail at Appendix 3 to the report. The projected increased surplus of £4.2 million would be used to redeem debt in line with the HRA Business Plan.

 

21.   That it be noted that 43 sundry debt accounts totalling £84,954.63, as detailed in paragraph 8.3 of the report, have been approved by for write off by the Director of Finance in accordance with the Council’s Financial Procedure Rules.

 

22.   That it be noted that 628 council tax accounts totalling £316,018.38, as detailed in paragraph 8.5 of the report, have been approved by for write off by the Director of Finance in accordance with the Council’s Financial Procedure Rules.

 

23.   That it be noted that 73 Non-Domestic Rates (NDR) debts totalling £319,318.71, as detailed in paragraph 8.6 of the report, have been approved for write off by the Director of Finance in accordance with the Council’s Financial Procedure Rules.

 

24.   That it be noted that 13 housing benefit overpayments totalling £1,746.93, as detailed in paragraph 8.9 of the report, have been approved for write off by the Director of Finance in accordance with the Council’s Financial Procedure Rules.

 

Minutes:

Councillor Louise Miles presented the report on the Council’s revenue budget outturn position for quarter one of 2019-2020 compared with approved budget and targets. She informed the Panel that the recommendations in the report included plans to use specific reserves to address areas where the Council faced cost pressures, such as Adult Social Care and Children’s Services.  Requests for write-offs, virements and use of reserves were all considered to be prudent in the opinion of the Director of Finance.  Councillor Louise Miles also drew to the Panel’s attention that a surplus of £21.1 million was being projected on the outturn of Housing Revenue Account (HRA) compared with a budgeted surplus of £16.9 million.

 

Resolved:

1.    That the use of £735,000 from the Regeneration Reserve to fund various development works and schemes as detailed at paragraph 5.4 of the report be approved.

 

2.    That the use of £8,000 from the Community Initiatives and Crowdfund Wolves Reserve to community led projects in the City as detailed at paragraph 5.5 of the report be approved.

 

3.    That the use of £5,000 from the Art Gallery Touring Exhibitions Reserve to support the costs of touring exhibitions as detailed at paragraph 5.6 of the report be approved.

 

4.    That the use of £4.3 million from the Adult Social Care Reserve to address in year forecast pressures across Adult Services as detailed at paragraph 5.7 of the report be approved.

 

5.    That the use of £500,000 from the Highways Management Reserve and to support Highways and Transportation projects and programmes as detailed in paragraph 5.8 of the report be approved.

 

6.    That the use of £135,000 from the Efficiency Reserve to fund Business Support Programme as detailed at paragraph 5.9 of the report be approved.

 

7.    That the use of £19,000 from the Transformation Reserve to fund library transformation programme for Finchfield and Central Libraries as detailed in paragraph 5.10 of the report be approved.

 

8.    That the contribution of £147,000 from ICTS to the Transformation Reserve to accommodate one off revenue costs of the OLM project going live in 2020-2021 as detailed in paragraph 5.11 of the report be approved.

 

9.    That the use of £122,000 from the Budget Contingency Reserve to fund academy conversion deficit as detailed in paragraph 5.12 of the report be approved.

 

10.That 21 virements totalling £9.5 million, for transfers within directorates, as detailed in Appendix 4 of the report be approved.

 

11.That a virement totalling £4.1 million, for transfers within the Housing Revenue Account, as detailed in paragraph 9.6 of the report be approved.

 

12.That the establishment of supplementary expenditure budgets within the 2019-2020 approved budgets as detailed in paragraph 4.0 of the report for grant funded expenditure be approved.

 

13.That a grant payment to The Way Youth Zone in 2019-2020 as detailed in paragraph 4.3 of the report be approved.

 

14.That the write off of nine Non-Domestic Rates (NDR) debts totalling £85,990.09 as detailed in Appendix 5 to the report be approved.

 

15.That the write off of four Council Tax debts totalling £27,623.83 as detailed in Appendix 6 of the report be approved.

 

16.That the write off of five sundry debts totalling £66,544.02 as detailed in Appendix 7 to the report be approved.

 

17.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 £2.2 million. 

 

18.That it be noted that this position is not untypical at this point in the financial year. The forecast overspend is largely attributable to demand led services.  It is important to note that it is early in the financial year, and all services would be asked to deliver further in year savings in order to address the projected overspend.

 

19.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.

 

20.That it be noted that a £21.1 million surplus on the Housing Revenue Account (HRA) is projected compared with a budgeted surplus of £16.9 million as shown at Table 20 and in detail at Appendix 3 to the report. The projected increased surplus of £4.2 million would be used to redeem debt in line with the HRA Business Plan.

 

21.That it be noted that 43 sundry debt accounts totalling £84,954.63, as detailed in paragraph 8.3 of the report, have been approved by for write off by the Director of Finance in accordance with the Council’s Financial Procedure Rules.

 

22.That it be noted that 628 council tax accounts totalling £316,018.38, as detailed in paragraph 8.5 of the report, have been approved by for write off by the Director of Finance in accordance with the Council’s Financial Procedure Rules.

 

23.That it be noted that 73 Non-Domestic Rates (NDR) debts totalling £319,318.71, as detailed in paragraph 8.6 of the report, have been approved for write off by the Director of Finance in accordance with the Council’s Financial Procedure Rules.

 

24.That it be noted that 13 housing benefit overpayments totalling £1,746.93, as detailed in paragraph 8.9 of the report, have been approved for write off by the Director of Finance in accordance with the Council’s Financial Procedure Rules.

Supporting documents: