Issue - meetings

To receive an update on the 2018/19 General Fund, Capital and Housing Revenue Account budgets, adjusting for any initial budget changes required, including the addition of the rephased budgets from 2017/18.

RESOLVED:

(a)  That the latest budget forecasts for the General Fund, Capital and Housing Revenue Accounts, as set out in paragraphs 3.2, 4.1 and 5.1 of Report item 1 to the Cabinet, be noted; and

(b)  That the new budget requirement of £80,000 for car park maintenance and equipment be approved.

The Cabinet was advised of the current position with respect to the General Fund, Capital and Housing Revenue Account budgets, based on performance to July 2018.

As a result of additional savings and income of £577,000, which had been partially offset by new requirements of £102,000 and the rephasing of £606,000 of expenditure from 2017/18 into 2018/19, the General Fund budget had reduced from £17.243 million to £16.768 million.  Further details on each of the key variations were set out in Section 3 of the report. 

The Cabinet supported additional expenditure of £80,000 for car park maintenance and equipment.  It was however expected that, as car park income was currently ahead of the year to date profile, over the full year there would be no net increase in this budget.

It was noted that the Capital Programme had increased from £26.225 million to £27.985 million to reflect the rephasing of expenditure from 2017/18.  Further details were set out in paragraph 4.2 of the report.

The Housing Revenue Account was now expected to benefit from savings of £250,000 against the maintenance budget as a result of efficiencies in the delivery of cyclical maintenance and rephasing the decoration of properties that were still in good condition.

RESOLVED:

(a)       That the latest budget forecasts for the General Fund, Capital and Housing Revenue Accounts, as set out in paragraphs 3.2, 4.1 and 5.1 of Report item 1 to the Cabinet, be noted; and

(b)       That the new budget requirement of £80,000 for car park maintenance and equipment be approved.