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Issue

Issue - meetings

Monitoring of the First Quarter 2015/16 Revenue Cash Limits - information only

Meeting: 21/01/2016 - Cabinet Member for Resources (Item 7)

7 Monitoring of the Second Quarter 2015/16 Revenue Cash Limits and Capital Programmes - information only pdf icon PDF 192 KB

The purpose of the report is to inform the Cabinet Member and Opposition Spokespersons of:

 

·                The forecast revenue expenditure for the year compared with the cash limited budget.

 

·                The forecast capital expenditure against the revised capital programme for the Resources portfolio.

 

RECOMMENDED that the contents of the report be noted.

Additional documents:

Minutes:

(TAKE IN REPORT FOR INFORMATION ONLY)

Sue Page introduced the report which compares the forecast revenue outturn 2015/16 with the cash limited budget for that year and the forecast capital expenditure with the approved capital programme and provides information to enable an understanding of the reason for variances. It also lists the action to be taken to mitigate the effect of forecast overspends.

With regard to the Revenue programme, Ms Page explained that to date there is an uncommitted balance on the reserve of £738,400. Any non- windfall underspend achieved by the portfolio at the end of the current year will be added to the reserve and conversely any overspend will need to be met from it.

With regard to the Capital Programme, this has been updated to reflect the impact of new schemes, further approved amendments, re-phasing of expenditure and the removal of completed schemes.

 

In response to a query about the overspend of £234,600 in line 8 of Appendix B, Ms Page said this will be met by the underspend in line 10 - Landlords Maintenance Budget.  Ms Page said that the overspend falls within Owen Buckwell's area and that the explanation given was that work would pick up again so there was no advantage in reducing staff levels.  Ms Page said that the situation was being monitored for appropriate remedial action to be taken.