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 February 2013. (Key decision – reference number 3607)
(8.20 – 8.25 pm)
Councillor Andrew Stafford (Cabinet Member for Finance and Property) introduced the report of the Director of Finance, Resources and Customer Services (No.202) setting out the Council’s revenue budget monitoring position based on information to the end of February 2013.
1. the £837k underspend revenue outturn projection as detailed in the report;
2. the financial performance overview and the net controllable budget as detailed in tables 1 and 2 of the report. Members noted that whilst the budget was neutral overall there were 31 areas of over and underspends within the budget, the reasons for which were set out in the report. Cabinet Members were asked to review their own budget areas with officers in preparation for the next year’s budget;
3. the other general fund items as set out in section 6 of the report including treasury management, corporate items, Enfield Residents’ Priority Fund and Housing Revenue Account all of which were on track;
4. the current position with regard to Section 106 monies. Members were advised that a report had been received by the Planning Committee providing a complete summary update on Section 106 monies; this could be made available to Cabinet Members on request;
5. Councillor Charalambous drew Members’ attention to the pressures on the Looked After Children (LAC) budget and the Youth Justice Secure Remand pressures as set out in section 5.6 of the report.
Alternative Options Considered: Not applicable to this report.
Reason: 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 3607)