Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
This report provides comparative information on the Council’s revenue expenditure for the period for the first half of the financial year. Members are invited to consider the financial performance and any corrective action that may be deemed appropriate.
The report provides summary information on the overall spending position against the emergency revenue budgets in the current year, as set out in the following tables:-
General Fund |
Emergency Budget 2020/21 |
Budget to 31 Oct 20 |
Actual to 31 Oct 20 |
Variation |
|
£000s |
£000s |
£000s |
£000s |
Service Budgets |
15,908 |
3,345 |
3,171 |
-174 |
Non-Service Budgets |
-2,602 |
-727 |
-737 |
-10 |
Net Budgets |
13,306 |
2,618 |
2,434 |
-184 |
Housing Revenue Account |
Emergency Budget 2020/21 |
Budget to 30 Sep 20 |
Actual to 30 Sep 20 |
Variation |
|
£000s |
£000s |
£000s |
£000s |
Income Budgets |
-12,142 |
-6,177 |
-6,224 |
-47 |
Management Costs |
3,517 |
1,173 |
1,046 |
-127 |
Finance Costs |
2,837 |
700 |
700 |
0 |
Property Costs |
5,788 |
1,132 |
938 |
-194 |
Net Budget |
0 |
-3,172 |
-3,540 |
-368 |
Revenue spending plans are currently showing a net underspend for the first half of the financial year.
However, there are a number of areas where spend is in excess of the budget; and a similar half yearly position was reported last year but the outturn position on the General Fund was a small overspend. It therefore remains appropriate to continue to monitor financial performance closely over the remainder of the financial year to ensure that any slippage does not adversely affect the services provided to residents and customers. Commentary on the most significant variations is set out in the briefing paper accompanying the report.
RESOLVED that the Executive notes the Finance Monitoring Report 2020/21.
Publication date: 09/12/2020
Date of decision: 07/12/2020
Decided at meeting: 07/12/2020 - Executive
Effective from: 19/12/2020
Accompanying Documents: