Issue - items at meetings - KD 3580 November 2012 Revenue Monitoring Report

Issue - meetings

KD 3580 November 2012 Revenue Monitoring Report

Meeting: 23/01/2013 - Cabinet (Item 6)

6 November 2012 Revenue Monitoring Report pdf icon PDF 339 KB

A report from the Director of Finance, Resources and Customer Services is attached. This sets out the Council’s revenue budget monitoring position based on information to the end of November 2012. (Key decision – reference number 3580)

(Report No.137)

(8.25 – 8.30 pm)

Minutes:

Councillor Andrew Stafford (Cabinet Member for Finance and Property) introduced the report of the Director of Finance, Resources and Customer Services (No.137) setting out the Council’s revenue budget monitoring position based on information to the end of November 2012.

 

NOTED

 

1.         that table 1 in the report set out the financial performance overview; the risk ratings for September, October and November were noted;

 

2.         that table 2 in the report set out the net controllable budget by department. The departmental monitoring information outlining both budget pressures and projected savings were set out in section 5 of the report. The majority of pressures were either demand led or due to the economic circumstances;

 

3.         the current position with regard to the achievement of savings as set out in section 8 of the report;

 

4.         that there had been no deterioration in the financial position of the Authority and plans were in place to balance the Medium Term Financial Plan (section 11.1 of the report referred);

 

5.         in response to questions raised regarding the current inclement weather and the effect on the environment budget, it was noted that the winter maintenance budget was in place. It was too early to forecast the costs involved and would depend on the extent of any bad weather in February and March. Other potential effects on the budget would be a reduction in parking receipts and road surface damage (potholes). If necessary the Council could call upon its reserves to meet any additional costs not covered by the winter maintenance budget.

 

Members took this opportunity to express their thanks and appreciation of the  good work undertaken by the environment gritting crews and the refuse collection teams.

 

Alternative Options Considered: Not applicable to this report.

 

DECISION: The Cabinet

 

1.         noted the £412k underspend revenue outturn projection after noting the shortfall in income (as detailed in paragraph 5.2 of the report);

 

2.         agreed that departments reporting pressures should continue to manage budgets in order to eliminate any overspend in 2012/13.

 

Reason for recommendations: To ensure that Members were aware of the projected budgetary position for the Authority, including all major budget pressures and underspends which had contributed to the present monthly position and that were likely to affect the final outturn.

(Key decision – reference number 3580)