Issue - meetings

Report of the Cabinet Member for Finance summarising the General Fund and Housing Revenue Account (HRA) revenue financial position for the Authority for the 3 months to the end of June 2016, attached.

On consideration of the report of the Cabinet Member for Finance, Cabinet agreed the following:

General Fund

i)  Note the current General Fund revenue position for 2016/17 as at Qtr. 1, which is a forecast over spend at year end of £5.13M against the working budget, as outlined in paragraph 4. 

ii)  Note that the forecast over spend for portfolios is £8.70M as outlined in paragraph 5.

iii)  Note the actions and assumptions being put in place to address the overspend position as described in paragraph 7 and Appendix 2.

iv)  Note the performance to date with regard to the delivery of the agreed savings proposals approved for 2016/17 as detailed in Appendix 3.

v)  Note the performance against the financial health indicators detailed in Appendix 4.

vi)  Note the performance outlined in the Quarterly Treasury Management Report attached as Appendix 5.

vii)  Note the performance outlined in the Quarterly Collection Fund Statement attached as Appendix 7.

Housing Revenue Account

viii)  Note the current HRA budget monitoring position for 2016/17, as at Qtr. 1. There is a forecast overspend at year end of £0.62M against the working budget as outlined in paragraphs 20 and 21 and in Appendix 6.