Agenda item

Chief Finance Officer report - Month 4 Forecast

Minutes:

The Chairman introduced the report and invited Mr Kevin Bartle Director of Finance (S151 Officer) to summarise each section of the report followed by comments and questions from the Committee.  

 

Revenue Forecast

 

Mr Bartle summarised the section and spoke about the proposal of transferring a sum from the contingency fund to rectify part of the budget issues.

 

Officers were requested to provide a breakdown to Councillor Levine and the Chairman of the additional costs being committed for the Waste Depot and Ancillary over and beyond what was initially agreed when the decision was agreed to move the Depot. (Action)

 

Dedicated Schools Grants

 

In respect of Table 4 on p. 24 of the Agenda it was agreed that a request be made to the Children, Education & Safeguarding Committee to consider the implications of the overspend as set out in the table. (Action: Refer for consideration of the Children, Education & Safeguarding Committee)

 

Savings

 

The Committee heard about the value of savings expected to be achieved against the savings programme of the Theme Committees. In addition, Mr Bartle referred to the commentary on the delivery of the savings to ensure that they are deliverable in the future.

 

Following a query from the Chairman, Mr Bartle confirmed that unachievable savings have been taken out of the forecast.

 

Reserves and Balances

 

In response to a query about the earmarked reserves, Mr Bartle referred to the data within Table 7 on p.25-26 of the Agenda which provides the year-end estimate for Reserves carried forward as of March 2019.

 

Capital Programme

 

Referring to section 2.2.2 on p.28 of the Agenda, Members noted the additional funding above the original estimate approved for the completion of the adults case management system. Mr Duncan Tessier, Commercial Director noted that this would be picked up as part of the Forward Work Programme of the Audit Committee.

 

The Committee noted the data in Table 11, p. 29 of the Agenda which sets out how the forecast capital programme is being funded. Members highlighted the importance of continuing to review the capital programme as well as the prioritisation of programmes which will generate income on a long-term basis. Mr Bartle noted that the Capital Strategy Board will continue to monitor this.

 

Treasury Management

 

Mr Bartle referred to the summary of deposits outstanding as set out in Table 12, p. 30 of the Agenda. The Chairman reminded the Committee about the Treasury Management training session for Members due to be held on 23rd October 2018.

 

Strategic Financial Matters

 

In response to a query from the Committee, Mr Tessier noted that where remedies are not dealt with under contractual relationship, that such matters would be reported to this Committee in the first instance.

 

The Chairman thanked the Committee and Officers for the debate and it was unanimously RESOLVED that:

 

1.    The Committee noted the 2018/19 revenue forecast outturn, as detailed in Table 1 and in Appendix A;

2.    The Committee noted the savings anticipated to be delivered in 2018/19, as detailed in Table 5;

3.    The Committee noted the level of reserves and balances as detailed in Tables 6 and 7;

4.    The Committee noted the 2018/19 capital forecast outturn, as detailed in Table 10 and in Appendix B;

5.    The Committee noted the treasury position outlined in section 2.3.

6.    The Committee noted the debtors position outlined in section 2.4.

7.    The Committee noted the strategic financial matters outlined in section 3.

 

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