Agenda item

Agenda item

Q3 Budget Monitoring Reports

To receive and scrutinise the Quarter 3 budget monitoring reports on all areas of Council business.


The Director of Resources introduced a report which provided the Committee with the Budget Monitoring Provisional Forecast outturn financial position for Quarter 3.  Corporate Resources OSC was the only Committee to receive this information and was able to refer matters to the relevant OSC for further investigation on matters of particular concern.


a.    Quarter 3 Revenue Budget Monitoring


The Director of Resources introduced the Quarter 3 Revenue Budget monitoring report that forecast an overspend of £1.2m.  He also highlighted the provisional outturn position, subject to audit, that indicated a £1.9m under spend.  All directorates had improved their provisional figures and had achieved a satisfactory position for the Council.


The ear marked reserves would provide funding for specific projects and the Council had achieved a resilient financial position in the short term.  Social Care Health and Housing faced continued housing challenges and Members discussed the growing pressure of homelessness provision.  In response the Executive Member advised the Council had purchased the Greenacre building for transitional housing and a cost effective solution to this issue was required.  Members supported the proposal that Social Care Health and Housing (SCHH) OSC investigate the issue.


RECOMMENDED that the SCHH OSC consider the request to investigate homelessness provision given the budgetary pressures on this service.




b.    Capital Budget Monitoring


The Executive Member introduced the Capital monitoring report detailing the financial position.  The Council had achieved a net underspend of £23m that compared favourably to the net figure of £44m achieved last year.  The Empty Homes team were congratulated on their achievements, however, a source of concern was identified with regards to the schools capital budget that was overspent due to delays on Section 106 monies being received and the change in legislation to this area of funding. 


Members discussed the schools funding issue and agreed to ask Children’s Services OSC to investigate the issue and report back to the Committee.


Noted the Capital budget position and recommended Children’s Services OSC investigate the schools’ capital budget concerns.


c.    Q3 Housing Revenue Account (HRA) Budget Monitoring


The Executive Member introduced the HRA budget report that detailed the projected outturn at quarter 3.  Due to delays in Croft Green and Houghton Regis Central project, the expected outturn figure was expected to be £6m. 


Noted the update.


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