Issue - meetings

This report brings together information on the Council’s key budget areas of Salaries, Major Income Streams and Investment Income.  The performance of the key budget areas, together with the approved variations to the revenue budget and areas identified through revenue budget monitoring are then summarised to provide an indicative overall budget position for the year.  The report also updates Members on capital expenditure and variations that have been agreed in relation to the capital plan.

(Report of Director of Finance and Transformation)

The report provided information on the Council’s key budget areas of salaries, major income streams and investment income.  It also gave details of the variations agreed in relation to the revenue budget and areas identified through budget monitoring, summarised to provide an indicative overall budget position for the year which showed a net adverse variance of £104,000.  It was noted that this had arisen because better than budgeted performance had enabled a one-off contribution to the Building Repairs Reserve to fund a number of items of unbudgeted building repair works.

An update was given on capital expenditure and variations agreed in relation to the capital plan.  The report also gave an update on the Savings and Transformation Strategy and funding gap and the proposed introduction by CIPFA of a financial resilience index.

Following consideration by the Finance, Innovation and Property Advisory Board, the Cabinet Member for Finance, Innovation and Property resolved that:

The contents of the report be noted and endorsed.

Decision Notice D180055MEM

The report of the Director of Finance and Transformation provided information on the Council’s key budget areas of salaries, major income streams and investment income.  It also gave details of the variations agreed in relation to the revenue budget and areas identified through budget monitoring, summarised to provide an indicative overall budget position for the year which showed a net adverse variance of £104,000.  It was noted that this had arisen because better than budgeted performance had enabled a one-off contribution to the Building Repairs Reserve to fund a number of items of unbudgeted building repair works.

An update was given on capital expenditure and variations agreed in relation to the capital plan.  The report also gave an update on the Savings and Transformation Strategy and funding gap and the proposed introduction by CIPFA of a financial resilience index.

RECOMMENDED:  That the contents of the report be noted and endorsed.