Agenda item

Agenda item

Quarter 1 Budget Monitoring Report – June 2018 Revenue, Capital and Housing Revenue Account.


To consider and comment on the report that sets out the Q1 budget monitoring position for 2018/19 as at the end of June 2018. It sets out the Q1 spend against the approved budgets.




The Director of Resources introduced the Q1 Revenue Budget Monitoring report.  The figures showed an £0.8m overspend, however, a £2.1m contingency fund was available if required.   The Council continued to look for savings and there were a number of positive developments that were outlined in the report.


The Committee’s attention was drawn to the Q1 Capital Budget and the principal variances forecast along with capital receipts that showed the significant capital investment had been made.


Finally, the Q1 Housing Revenue Account (HRA) revenue forecast was to achieve a balanced budget and enabled the Council to invest and improve its housing stock.  A Member raised a question regarding the opportunity to borrow more money against the HRA in order to fund housing schemes.  The Executive Member for Assets and Housing Delivery advised the Council would submit a bid for additional funds at the end of September and the Committee would be advised of the outcome.


NOTED the Q1 Budget Monitoring reports.


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