The committee received
the report of the Interim Head of Finance. The Interim Head of Finance introduced the report
highlighting some key areas of interest including the unfavourable
revenue variance of £0.336 million, which was mainly due to
lower rental on certain operational properties, an increase in the
environmental health spend and the funding of a post in
transportation from the controlled parking zone
He explained that 88%
of the revenue budget had been spent as against 83%
expected. However, there was still
scope to underspend on some projects; so there was a potential for
some carry forwards in to the next financial year.
The Interim Head of
Finance provided information on revenue reserves and staff
vacancies. There were presently 25
vacancies in the council equating to 10% of the
workforce. This was the first year that
this element was being included in the digest and would provide an
interesting comparison in relation to next year’s
The Interim Head of
Finance continued by discussing the capital budget, explaining that
£16m from this financial year would be re-phased in to next
year’s budget. He emphasised that
these were not new monies; rather a carrying forward
process. The Interim Head of Finance
concluded by advising the committee on issues in relation to
budgetary risks and aged debt.
In response to
questions from members, the Interim Head of Finance:
Undertook to provide the committee with information
on the impact to council business rates revenues resulting from
measures announced in the government’s budget.
Explained, in relation to revenue reserves balances,
how the economic impact reserve was maintained.
Advised that strict criteria applied to revenue
expenditure being capitalised and would need the Secretary of
Agreed, with regard to emerging budget risks, that
the Demand Responsive Transport and Bike Share Project risks should
be deleted from the table at Appendix 6 to the report.
the 2019/20 Period 10 Finance Digest, as shown at
Annex A to the report, was considered and the revenue and capital
forecast outturn positions were noted.
the action agreed be undertaken.