Issue - meetings

Revenue Budget Monitoring 2017/18 Quarter 1 - to end June 2017

Meeting: 28/09/2017 - Cabinet (Item 6.)

6. Revenue Budget Monitoring 2017/18 Quarter 1 - to end June 2017 pdf icon PDF 67 KB

The report by the Director of Finance & Information Service is to update members on the current Revenue Budget position of the Council as at the end of the first quarter for 2017/18 in accordance with the proposals set out in the “Portsmouth City Council - Budget & Council Tax 2017/18 & Medium Term Budget Forecast 2018/19 to 2020/21” report approved by the City Council on the 9th February 2017.

 

RECOMMENDED that:

 

(1)          The forecast outturn position for 2017/18 be noted:

 

(a) An underspend of £1,529,600 before further forecast transfers

from/(to) Portfolio Specific Reserves & Ring Fenced Public Health

Reserve

 

(b) An underspend of £684,600 after further forecast transfers from/(to)

Portfolio Specific Reserves & Ring Fenced Public Health Reserve.

 

(2) Members note that any actual overspend at year end will in the first instance be deducted from any Portfolio Specific Reserve balance and once depleted then be deducted from the 2018/19 Cash Limit.

 

(3) Directors, in consultation with the appropriate Cabinet Member, consider options that seek to minimise any forecast overspend presently being reported and prepare strategies outlining how any consequent reduction to the 2018/19 Portfolio cash limit will be managed to avoid further overspending during 2018/19.

Additional documents:

Decision:

(1)       The forecast outturn position for 2017/18 was noted:

 

(a) An underspend of £1,529,600 before further forecast transfers

from/(to) Portfolio Specific Reserves & Ring Fenced Public Health

Reserve;

 

(b) An underspend of £684,600 after further forecast transfers from/(to)

Portfolio Specific Reserves & Ring Fenced Public Health Reserve.

 

(2) Members noted that any actual overspend at year end will in the first instance be deducted from any Portfolio Specific Reserve balance and once depleted then be deducted from the 2018/19 Cash Limit.

 

(3) Directors, in consultation with the appropriate Cabinet Member, consider options that seek to minimise any forecast overspend presently being reported and prepare strategies outlining how any consequent reduction to the 2018/19 Portfolio cash limit will be managed to avoid further overspending during 2018/19.