Decision Maker: Cabinet
Decision status: Recommendations Approved (subject to call-in)
Is Key decision?: Yes
Is subject to call in?: Yes
Quarterly budget monitoring report
The Portfolio Holder introduced the report which presented the forecast outturn for 2019/20 (based on actual information to the end of July 2019). The report covered the performance and forecasts of the General Fund and the Housing Revenue Account, with commentary supporting key variances in the body of the report. The report also outlined actions considered by Management Team to mitigate current pressures on the General Fund and provided updates on large capital projects and the Council’s treasury management activity.
The Deputy Leader asked if, in future reports, the tables on page 14 of this report could include reference to the loan to A Better Choice for Property Ltd.
In response to questions about the Council’s borrowing, the Director of Finance and Economy advised that the outstanding Public Works Loans Board loans were kept under constant review in terms of if or when was the best time to refinance.
The Leader said that shrewd financial and treasury management was a hallmark of this Council and had been part of his thinking when instructing Finance to establish an Economic Resilience Reserve back in 2016, which had now grown to £2.9m.
That (i) the forecast outturn position for the General Fund and the Housing Revenue Account be noted.
(ii) the Capital Monitoring and Treasury Management position be noted.
(iii) the contribution to support the Woodchurch Wagon, under delegated authority by the Head of Community Safety and Wellbeing, be noted.
That (i) delegated authority be given to the Head of Environment and Land Management to approve spend from the repairs and renewals reserve for operational equipment at Aspire.
(ii) delegated authority be given to the Chief Executive, in conjunction with the Leader of the Council, relevant Portfolio Holders, the S151 Officer and the Monitoring Officer, for the release of up to £500,000 of the Economic Resilience Reserve to support the letting of the Council’s commercial property.
(iii) Stray Dog fees be set at £25 as per statutory requirements.
Contact: Maria Stevens Email: firstname.lastname@example.org Tel: 01233 330547.
Publication date: 17/09/2019
Date of decision: 06/11/2019
Date comes into force if not called in: 26/09/2019
Call-in deadline date: 25/09/2019