Issue - meetings

To consider the quarterly Financial Monitoring report.

RESOLVED

That the 2015-16 forecast revenue outturn position on the Council’s General Fund (Appendix 1 as amended) and progress made to date on the 2015-16 capital projects (Appendix 2) be noted.

The Cabinet considered the report and appendices circulated with the agenda (copy attached to the official minutes).

Mrs Hardwick introduced the report, and invited Cabinet Members to comment on whether there were any points of interest in their portfolios.

Mrs Belenger (Accountancy Services Manager) made a correction to Appendix 1 (page 175) in relation to Estates, explaining that the “Terminus Road income”, included the “Investment property woodruff centre”, which had thus been double-counted. This reduced the total projected variance 2015-16 from -£1,701,000 to -£1,600,200.

The Chairman commented on the effect of the buoyancy of the economy on planning and car parking income, the return on the Council’s property investments as compared with bank deposits, and the underspends resulting from holding staff vacancies.

Mrs Hardwick asked that the tables should show the % variances, and asked whether there were materiality thresholds. Mrs Belenger replied that variances of over £20,000 were considered significant.

Officers answered a number of members’ questions about individual variances.

RESOLVED

That the 2015-16 forecast revenue outturn position on the Council’s General Fund (Appendix 1 as amended) and progress made to date on the 2015-16 capital projects (Appendix 2) be noted.