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2018/19 General Fund Revenue and Capital Outturn, Carry Forwards and Significant Variances - F&R

27/08/2019 - 2018/19 General Fund Revenue and Capital Outturn, Carry Forwards and Significant Variances - F&R

Matter for Decision

The report presented a summary of actual income and expenditure compared to the final budget for 2018/19 (outturn position). The report gave an overview of the revenue and capital budget variances with explanations and outlined specific requests to carry forward funding available from budget underspends into 2019/20.

 

Decision of Executive Councillor for Finance and Resources

  i.  Approved carry forward requests totaling £85,080 revenue funding from 2018/19 to 2019/20 as detailed in Appendix C of the officer’s report.

  ii.  Approved carry forward requests of £3,116k capital resources from 2018/19 to 2019/20 to fund rephased net capital spending as detailed in Appendix D of the officer’s report.

 

Reason for the Decision

As set out in the Officer’s report.

 

Any Alternative Options Considered and Rejected

Not applicable.

 

Scrutiny Considerations

The Committee received a report from the Head of Finance.

 

The Committee made the following comments in response to the report:

  i.  Referred to the £50k payment an ICT creditor on p186 of the agenda.

  ii.  Acknowledged the savings which had been made by the Legal Services Department.

  iii.  Queried whether the Property Department was under budgeting for income and being overly prudent which meant that services were proposed to be cut when they didn’t need to be.

 

The Head of Finance said the following in response to Members’ questions:

  i.  Confirmed that no payment was due to the council from the ICT contract.

  ii.  Budgeting for property income was not straight forward due to rent reviews and some rents that depend on the turnover of the tenant.  An experienced Accountant works with the Head of Property Services to review the property portfolio annually to calculate budgets.

 

The Committee unanimously resolved to endorse the recommendations.

 

The Executive Councillor approved the recommendations.

 

Conflicts of Interest Declared by the Executive Councillor (and any Dispensations Granted)

No conflicts of interest were declared by the Executive Councillor.