To receive and scrutinise the Q3 2017/18 Budget Monitoring Report on all

areas of Council Business:-

(a) Outturn Revenue Budget Monitoring

(b) Outturn Capital Budget Monitoring

(c) Outturn HRA Budget Monitoring

The Deputy Executive Member introduced the Q3 Revenue Budget Monitoring report that forecast a £2.2m overspend.  At that time delegated authority was agreed to make any adjustments necessary to manage the closure position. The Assistant Director of Finance advised that since that report was produced, we have concluded the outturn position which is an underspend of £78K.  Members discussed the following in summary:-

·         Concern regarding vacant posts within the Children’s Safeguarding service.  The Assistant Director advised much work had been undertaken and the service was now back up to full strength. 

·         What steps had been taken to mitigate high education transport costs. In response, the Executive Member for Children’s Service advised a joint working group with representatives from Children’s and Community Services had been set up and was working towards independent travel training for SEND users as one element to reduce costs.  The planning of school places for the future would look to plan a better balance of special provision throughout the district and so elevate the need to travel. However, it was appreciated this approach was a sensitive area.  With regards to mainstream transport the Council sat in the middle of the performance table. 

In consideration of the Capital Budget, the Deputy Executive Member advised £46m of capital receipts received had seen the Council achieve zero borrowing on its capital projects.  Slippage of major schemes was based on the time constraints of projects or reasons beyond the Council’s Control.

The Executive Member introduced the HRA that was again on budget and was confirmed in the recently published outturn figures.  The HRA continued to deliver excellent projects and was well managed.

Noted the Q3 Budget Monitoring reports.

The report sets out the forecast outturn financial position for 2017/18.

1.      That the revenue forecast outturn position which is currently an overspend of £2.2m, be noted.

2.      To note that the budget includes £2.1m of contingency against which no call has yet been made.  If this contingency is released then this results in an overall net overspend of £0.1m.

3.      That officers continue to look for compensatory savings in order to deliver a balanced budget.

4.      To authorise the Chief Executive and the Director of Resources (s.151 Officer), in consultation with the Leader and the Deputy Leader and Executive Member for Corporate Resources, to approve the 2017/18 Revenue, Capital and Housing Revenue Account provisional financial outturn positions, subject to audit.

5.      That the above delegation is subject to the final outturn position not being more than 1% over/under net budget.

The Executive considered a report from the Deputy Leader and Executive Member for Corporate Resources that set out the forecast outturn financial position for 2017/18 as at December 2017.

Reason for decision:  To facilitate effective financial management and planning.

RESOLVED

1.      that the revenue forecast outturn position which was currently an overspend of £2.2m, be noted;

2.      to note that the budget includes £2.1m of contingency against which no call has yet been made.  If this contingency was released then this results in an overall net overspend of £0.1m;

3.      that officers continue to look for compensatory savings in order to deliver a balanced budget;

4.      to authorise the Chief Executive and the Director of Resources (s.151 Officer), in consultation with the Leader and the Deputy Leader and Executive Member for Corporate Resources, to approve the 2017/18 Revenue, Capital and Housing Revenue Account provisional financial outturn positions, subject to audit; and

5.      that the above delegation was subject to the final revenue outturn position not being more than 1% over/under net budget.

The decision was unanimous.