Councillors Brock & Lovelock / Director of Resources

This report sets out the projected 2018/19 revenue and capital outturn positions as at the end of June 2018 and performance for the first quarter against the measures of success published in the Council’s Corporate Plan.

The Chief Executive submitted a report setting out the projected revenue and capital outturn positions for 2018/19 as at the end of June 2018 (Quarter 1) and also performance for the first quarter against the measures of success published in the Council’s Corporate Plan. The following appendices were attached to the report:

·         Appendix 1 – Financial Monitoring for Quarter 1

·         Appendix 2 – Performance Monitoring for Quarter 1

The report explained that the forecast General Fund outturn as at the end of Quarter 1 (Period 3) was a projected overspend of £1.367m, which was an increase of £0.638m from Period 2. The biggest increase was within the Environment and Neighbourhood Service Directorate (rising from £0.170m to £0.681m overspend), and the Children’s' Education and Early Help forecast overspend had risen from £0.559m to £0.686m.  The Directorate of Resources and the Directorate of Adults and Health Care Services were both showing a balanced budget position at this stage in the financial year, although there were variances within service areas.   

The report also summarised the position at the end of Quarter 1 regarding potential risks to savings and income targets.  Directorate Management Teams had been charged with finding mitigating savings for any overspends or underachievement of savings/income targets identified within their Directorates, and progress would be reported back to the Committee in future monitoring reports.

The report stated that the General Fund Capital Programme was currently forecasting a breakeven position at year-end.  The Housing Revenue Account was forecasting a £0.200m underspend as at the end of quarter one, due to rent collection rates being higher than budgeted, and the Housing Revenue Account Capital Programme was projected to be underspent by £5.841m by year-end, predominantly due to New Builds and Acquisitions slipping from 2018-19 into 2019-20.

The report also set out a summary of performance as at the end of Q1 against the success measures published in the Corporate Plan, to monitor progress against the Council’s six priorities. Measures where there had been key shifts in performance and/or significant variation from the target were highlighted.  The full suite of twenty nine measures and progress against targets as at the end of June 2018 were set out in Appendix 2 attached to the report.

Resolved –

(1)     That the forecast General Fund outturn position as at the end of June 2018 of an overspend of £1.367m excluding the use of contingency be noted;

(2)     That the forecast outturn position on the Housing Revenue Account as at the end of June 2018, of a projected underspend of £0.200m be noted;

(3)     That the forecast outturn position on the Capital Programme as at the end of June 2018, of a projected underspend of £5.841m be noted;

(4)     That the performance achieved against the Corporate Plan success measures as set out in the report and Appendix 2 attached to the report be noted.