Issue - meetings
2018/19 Revenue Budget Monitoring Report for the Period Ending 30th June 2018
Meeting: 02/08/2018 - District Executive (Item 35)
35 2018/19 Revenue Budget Monitoring Report for the Period Ending 30th June 2018 
PDF 359 KB
Additional documents:
- 7 Revenue Appx A Detailed Budgets Report DC June 2018, item 35
PDF 320 KB
- 7 Revenue Appx B Area Reserves qrt1 2018-19, item 35
PDF 12 KB
- 7 Revenue Appx C Corp Reserves qrt1 18-19, item 35
PDF 71 KB
Decision:
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RESOLVED: |
That District Executive agreed to:- |
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a. |
Note the current 2018/19 financial position of the Council
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b. |
Note the reasons for variations to the previously approved Directorate Budgets as detailed in paragraph 8, Table 1;
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c. |
Note the transfers made to and from reserves outlined in paragraph 26, Table 4 and the position of the Area Reserves as detailed in Appendix B and the Corporate Reserves as detailed in Appendix C;
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Reason: |
To note the early projection of the forecast spending and income (“outturn”) against the Council’s approved Revenue Budget for the financial year, and to explain projected variations against budget. |
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Minutes:
The Leader of Council, in the absence of the Portfolio Holder, introduced the report, noting that as this was a first quarter report, it was only an indication of the Council’s revenue finance position. He drew Members attention to several points in the report and concluded that the Council was overall in a strong financial position
The Lead Specialist – Finance advised that the Specialist Finance Officers had recently focussed on the year end reports but would now focus on the quarter 2 monitoring reports.
It was noted that the questions raised at the Scrutiny Committee had been answered at the meeting by the Lead Specialist – Finance. The questions included virement to the regeneration budgets for Chard, Wincanton and Yeovil, predicted shortfall in Building Control income, mid-term reporting on the Westland Venue, income from property investments, the Closed Churchyards Reserve and the use of acronyms in the report.
The Chief Executive confirmed that a new business plan was being developed for the Building Control service to be competitive and provide a good service to the development community in the future. He did note that the service was only allowed to break even and not to make a profit.
At the conclusion of the debate, Members were content to note the current revenue position of the council for 2018/19.
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RESOLVED: |
That District Executive agreed to:- |
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a. |
Note the current 2018/19 financial position of the Council
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b. |
Note the reasons for variations to the previously approved Directorate Budgets as detailed in paragraph 8, Table 1;
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c. |
Note the transfers made to and from reserves outlined in paragraph 26, Table 4 and the position of the Area Reserves as detailed in Appendix B and the Corporate Reserves as detailed in Appendix C;
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Reason: |
To note the early projection of the forecast spending and income (“outturn”) against the Council’s approved Revenue Budget for the financial year, and to explain projected variations against budget. |
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