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 £76,850. 

Reference was made to the announcement that the Council had been awarded £150,000 as a result of the inclusion of Borough Green Gardens into the Government’s Garden Communities Programme.

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.

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

(1)             detailed decisions on expenditure in respect of the £150,000 funding awarded by the Ministry for Housing, Communities and Local Government for Borough Green Gardens be delegated to the Director of Planning, Housing and Environmental Health;

(2)             it be noted that as at the end of June 2019, the projected overall outturn position is a net adverse variance of circa £77,000 when compared to the budget set in February 2019; and

(3)             the position in respect of the funding gap be noted together with the need over the coming months  to identify and implement opportunities to deliver at least this year’s savings and transformation contribution of £100,000.

Decision Notice D190053MEM

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 £76,850. 

Reference was made to the announcement that the Council had been awarded £150,000 as a result of the inclusion of Borough Green Gardens into the Government’s Garden Communities Programme.

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.

RECOMMENDED:  That

(1)             detailed decisions on expenditure in respect of the £150,000 funding awarded by the Ministry for Housing, Communities and Local Government for Borough Green Gardens be delegated to the Director of Planning, Housing and Environmental Health;

(2)             it be noted that as at the end of June 2019, the projected overall outturn position is a net adverse variance of circa £77,000 when compared to the budget set in February 2019; and

(3)             the position in respect of the funding gap be noted together with the need over the coming months  to identify and implement opportunities to deliver at least this year’s savings and transformation contribution of £100,000.