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Issue - meetings

Third Quarter Budget Monitoring

Meeting: 15/02/2017 - Policy and Resources Committee (Item 192)

192 Report of the Director of Finance and Business Improvement - Third Quarter Budget Monitoring pdf icon PDF 157 KB

Additional documents:

Decision:

That the Committee:

 

1.  Notes the revenue position at the end of the third quarter and the actions being taken or proposed to improve the position where significant variances have been identified, as set out in table 1, paragraph 2.8;

2.  Approves the proposed slippage in the capital programme of £1,802,449 into 2017/18 as detailed in paragraph 2.13;

3.  Notes the performance of the collection fund and the estimated level of balances at the year-end; and

4.  Notes the performance in relation to the treasury management strategy for the third quarter of 2016/17.

Minutes:

Duration of MEetingThe Director of Finance and Business Improvement addressed the Committee on this item, and outlined the key areas in the report which included:

·  A drop in the projected overspend in Temporary Accommodation for the Housing Service.

·  An increase in the projected overspend for Mote Park Café.

·  Treasury management had performed poorly due to low interest rates.

·  Street Naming and numbering income had increased due to an increase in development in the borough.

·  Members allowances had decreased as many members are past the statutory retirement age and therefore the council is not liable to pay National Insurance Contributions.

 

RESOLVED: That the Committee:

 

1.  Notes the revenue position at the end of the third quarter and the actions being taken or proposed to improve the position where significant variances have been identified, as set out in table 1, paragraph 2.8;

2.  Approves the proposed slippage in the capital programme of £1,802,449 into 2017/18 as detailed in paragraph 2.13;

3.  Notes the performance of the collection fund and the estimated level of balances at the year-end; and

4.  Notes the performance in relation to the treasury management strategy for the third quarter of 2016/17.