Decision Maker: Executive
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
This report provides comparative information on the Council’s revenue and capital expenditure for the three months ended 30 June 2014. Members are invited to consider the financial performance in the quarter, and any corrective action that may be deemed appropriate.
This report provides summary information on the overall spending position against the revenue and capital budgets in the current year, as set out in the following tables:-
Revenue |
Budget 2014/15 |
Budget to 30 Jun 14 |
Actual to 30 Jun 14 |
Variation |
|
£000s |
£000s |
£000s |
£000s |
Service Budgets |
13,027 |
7,303 |
6,721 |
-582 |
Non-Service Budgets |
-3,511 |
-431 |
-454 |
-23 |
Net |
9,516 |
6,872 |
6,267 |
-605 |
The main variations in spending to 30 June 2014 are within cost of employment (-£61,566 and housing benefits (-£271,009). Vacancies are the main reason behind the under spend on the cost of employment. Housing benefit payments are under the budget although this will be revised during the financial year.
Capital Programme |
Budget 2014/15 |
Budget to 30 Jun 14 |
Actual to 30 Jun 14 |
Variation |
|
£000s |
£000s |
£000s |
£000s |
General Fund |
19,091 |
1,647 |
392 |
-1,255 |
HRA |
10,409 |
1,807 |
717 |
-1,090 |
Total |
29,500 |
3,454 |
1,109 |
-2,345 |
Revenue and capital spending plans are showing an under spend for the period.
While there are no areas of immediate concern, it is appropriate to monitor financial performance over the final quarter 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 in the briefing paper accompanying the report.
RESOLVED that the report on revenue and capital budget monitoring be noted.
Report author: Caroline Hancock
Publication date: 02/09/2014
Date of decision: 01/09/2014
Decided at meeting: 01/09/2014 - Executive
Effective from: 12/09/2014
Accompanying Documents: