Issue - meetings

Financial Planning and Control

Meeting: 05/06/2019 - Finance, Innovation and Property Advisory Board (Item 16)

16 Financial Planning and Control pdf icon PDF 146 KB

The report provides information on the Council’s key budget areas of salaries, major income streams and investment income, together with approved variations, virements and issues identified via revenue budget monitoring for the year ended March 2019 and first month of 2019/20; and for 2018/19 the Kent wide 100% Business Rates Retention pilot.  The information is then aggregated to provide a provisional outturn position for 2018/19 and an indicative outturn position for 2019/20.  The report also updates Members on capital expenditure and variations agreed in relation to the Capital Plan.

 

Additional documents:

Decision:

(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 together with approved variations, virements and issues identified via revenue budget monitoring for both the year ended 31 March 2019 and the first month of 2019/20, and for  2018/19 details of the Kent-wide 100% Business Rates Retention pilot.  The information was aggregated to provide a provisional outturn position for 2018/19 and an indicative outturn position for 2019/20.  The former showed a contribution to the General Revenue Reserve £35,144 less than the revised estimate after transferring an additional £400,000 and £250,000 respectively to the Tonbridge and Malling Leisure Trust and Building Repairs earmarked reserves in recognition of recent and future cost pressures.

 

An update was also given on capital expenditure and variations agreed in relation to the capital plan for the year ended March 2019 and the month of April 2019.

 

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.

 

Minutes:

Decision Notice D190039MEM

 

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 together with approved variations, virements and issues identified via revenue budget monitoring for both the year ended 31 March 2019 and the first month of 2019/20, and for 2018/19 details of the Kent-wide 100% Business Rates Retention pilot.  The information was aggregated to provide a provisional outturn position for 2018/19 and an indicative outturn position for 2019/20.  The former showed a contribution to the General Revenue Reserve £35,144 less than the revised estimate after transferring an additional £400,000 and £250,000 respectively to the Tonbridge and Malling Leisure Trust and Building Repairs earmarked reserves in recognition of recent and future cost pressures.

 

An update was also given on capital expenditure and variations agreed in relation to the capital plan for the year ended March 2019 and the month of April 2019.

 

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