Issue - meetings

The Budget Monitoring Report sets out the Capital, Housing Revenue and General Fund Revenue budget performance to the end of December 2019.

The Cabinet

            RESOLVED – That

(1)  That the report in Appendix 1 be noted; and

(2)  It be noted that the overall performance against budget is currently on track

The Deputy Leader of the Council and Cabinet Member for Corporate Support introduced this report stating that financial performance was monitored on a regular basis to ensure that spending was in line with Council policies and that net expenditure was contained within overall budget limits.  The report covered performance against approved budget to the end of December 2019 in relation to General Fund, Housing Revenue Account and Capital.   It was outlined that this report had a close link to the Budget 2020/21 which was the next item on the agenda.

The Chairman then invited the Financial Services Manager to work through the key highlights of the budget monitoring report and to take questions.

The Financial Services Manager outlined that this was the third report of the year to the end of December 2019.  The Council’s financial position had been detailed at Appendix 1 and it confirmed that the Council had a general fund underspend of £99k against current budget profile.  Net expenditure of nightly paid accommodation had put pressure on the budget with Full Council agreeing a supplementary estimate to regularise the financial position in January 2020.

The Cabinet

            RESOLVED - That

(1)  The report and Appendix 1 be noted;

(2)  It be noted that overall performance against budget was currently on track.

             The Cabinet confirmed its decision as per Decision Notice C/035/10020, a copy of which is attached to the signed copy of the Minutes.