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 nine months to the end of December 2017, and highlighting any key issues by Portfolio which need to be brought to the attention of Cabinet.

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 2017/18 as at December 2017, which is a forecast overspend at year end of £2.02M against the working budget, as outlined in paragraph 3. 

ii)  Note that the forecast overspend for portfolios is £4.33M as outlined in paragraph 4 and further in Appendix 1.

iii)  Note the actions and assumptions being put in place to address the overspend position as described in paragraphs 5 to 12.

iv)  Note the performance to date with regard to the delivery of the agreed savings proposals approved for 2017/18 as detailed in paragraphs 13 to 20.

v)  Note the Key Financial Risk Register as detailed in Appendix 2.

vi)  Note the performance against the financial health indicators detailed in Appendix 3.

vii)  Note the performance outlined in the Treasury Management update on benchmarking, prudential indicators and financial outlook in paragraphs 37 to 45 and attached as Appendix 4.

viii)  Note the performance outlined in the Quarterly Collection Fund Statement attached as Appendix 5 and detailed in paragraphs 49 to 52.

Housing Revenue Account

ix)  Note the current HRA budget monitoring position for 2017/18, as at December 2017. There is a forecast overspend at year end of £0.86M against the working budget as outlined in paragraphs 46 to 48.