Issue - meetings

To consider the provisional outturn on the 2018/19 budget.

RESOLVED:

That the latest budget forecasts for the General Fund, Capital Programme and Housing Revenue Account for 2018/19, as set out in paragraphs 3.2, 4.2 and 5.1 of Report Item 7 to the Cabinet, be noted.

Members were advised of the provisional outturn on the 2018/19 budget.

The provisional outturn on the General Fund was £16.561 million, reflecting further net positive variations of £1.418 million and new budget requirements of £1.299 million since the December meeting of the Cabinet.  Details of these variations were set out in Tables 1 and 2, together with paragraphs 3.7 - 3.9 of the report.  Once the final year end positon had been established a review of the variations would be carried out to determine which would continue into the future but had not yet been reflected in the 2019/20 budget or Medium Term Financial Plan.  In addition, the Council would shortly be receiving a refund of £720,000 under the National Non-Domestic Rates appeals procedures in respect of the rateable value of 5 of the Council’s car parks, covering the period 2010/11 to 2017/18.  The refund would be placed into the capital programme reserve and used to support the delivery of the capital and maintenance programmes.  It was noted that there were further rephasings, amounting to £275,000 relating to works to Fordingbridge car park and delays in coastal works. 

With respect to asset maintenance and replacement, new requirements totalling £409,000 had been identified, largely arising from the ICT work programme and works to implement smarter working.  Rephasings of £491,000 were the result of being unable to complete some projects within the current year.

Third party grants to the Marchwood Guides and Sandleheath were also being rephrased into 2019/2020.

The Capital programme outturn was projected to be £23.226 million, as a result of net budget adjustments of £664,000 and net rephasing of schemes to future years to the value of £2.568 million.  Further details of these variations were set out in Tables 3 and 4 of the report.

The Cabinet considered that while these late rephasings were regrettable, it was preferable to ensure that the work was carried out at the most appropriate time for the delivery of the project.

Variations to the Housing Revenue Account were set out in paragraphs 5.2 and 5.3 of the report together with Table 5.  The total variation was £170,000, drawn from the accumulation of various smaller sums, with no particular items of note.  Any underspend against the budget would be transferred to the Acquisitions and Development Reserve.

RESOLVED:

That the latest budget forecasts for the General Fund, Capital Programme and Housing Revenue Account for 2018/19, as set out in paragraphs 3.2, 4.2 and 5.1 of Report Item 7 to the Cabinet, be noted.