Issue - meetings

Financial Monitoring Quarter 2 Report

Meeting: 05/12/2018 - Cabinet (Item 64)

64 Financial Monitoring Quarter 2 Report pdf icon PDF 174 KB

To consider the report of the Cabinet Member for Performance and Resources concerning year-end forecasts, and progress made against agreed savings targets for the 2nd quarter ended 30th September 2018.

Decision:

RESOLVED that it be noted that:

 

(1)  The savings achieved in year to date total £150k with a further £197k in progress.

 

(2)  The forecast year end position is currently for a reduction to the Council’s General Fund balance of £28k against a budgeted increase of £163k.

 

(3)  The details of specific budgetary issues identified by officers and the actions being taken to address those issues

 

(4)  The current level of Capital expenditure as shown on Appendix 2

Minutes:

Cabinet considered the report of the Cabinet Member for Performance and Resources that presented the year-end forecasts and progress made against agreed savings targets for the second quarter ended 30th September 2018.

 

The Cabinet Member for Performance and Resources stated that the approach taken to the report had been conservative and that she was confident in the end of year position being positive.  In relation to the cost of placing families in temporary accommodation (6.2) the Cabinet Member for Communities and Neighbourhoods reminded Members that considerable progress had already been made reducing the need and took the opportunity to thank the Housing Team for their innovative work in this area, in particular with landlord incentive initiatives.  The Cabinet Member for Environment commented that he was monitoring his own portfolio carefully with the expectation that contractors would improve on the previous year’s performance or be penalised.  The Cabinet Member for Regeneration and Economy emphasised the importance of making targets realistic and recognising that generating savings and income was a long-term process, especially in relation to Markets, Museums and Cultural services where particular challenges were being addressed.

 

 

RESOLVED that it be noted that:

 

(1)  The savings achieved in year to date total £150k with a further £197k in progress.

 

(2)  The forecast year end position is currently for a reduction to the Council’s General Fund balance of £28k against a budgeted increase of £163k.

 

(3)  The details of specific budgetary issues identified by officers and the actions being taken to address those issues

 

(4)  The current level of Capital expenditure as shown on Appendix 2


Meeting: 03/12/2018 - Overview and Scrutiny Committee (Item 122)

122 Financial Monitoring Quarter 2 Report pdf icon PDF 174 KB

To consider the report of the Cabinet Member for Performance and Resources which details year-end forecasts and progress made against agreed savings targets for the 2nd quarter ended 30th September 2018.

Additional documents:

Minutes:

122.1              Councillor H. Norman, Cabinet Member for Performance and Resources, introduced the report and provided an overview of key matters.

 

122.2              With regards to the Performance and Resources portfolio, Councillor Norman informed Members that there were pressures surrounding the Housing subsidy and that, historically, this balanced in Quarters 3 and 4. She also highlighted that large IT initiatives were to be initiated.

 

122.3              Councillor Pullen noted that there were just two vacant market stalls and that, as such, he was surprised to see a deficit in that area. He asked for the Cabinet Member for Regeneration and Economy to clarify what a private management company would do to improve market income generation. It was confirmed that an answer would be circulated.

 

122.4              In response to a query from Councillor Hilton about whether there was confidence in having the culture budget on target, Councillor Norman stated that she was optimistic about this and that she believed the Council would be able to increase income.

 

122.5              Councillor Hilton asked for clarification on how the vacancy factor was built into draft budget proposals. Councillor Norman advised that an answer would be provided.

 

122.6              RESOLVED that: - The Overview and Scrutiny note the report.