Issue - meetings

Revenue Budget Monitoring - 2019/2020 Provisional Outturn

Meeting: 24/06/2020 - Executive Committee (Item 8)

8 Revenue Budget Monitoring - 2019/2020 Provisional Outturn pdf icon PDF 704 KB

To consider the report of the Chief Officer Resources.

Additional documents:

Minutes:

Consideration was given to report of the Chief Officer Resources.

 

At the invitation of the Leader the Chief Officer Resources presented the report that detailed the Provisional outturn position at the end of 2019/2020; the significant adverse variances within portfolios; the provisional outturn for Fees and Charges; and the progress on the achievement of the Financial Efficiency Projects for 2019/2020.

 

The Officer referred to paragraph 5.1.3 which highlighted the overall position across all portfolios.

 

She noted that the provisional outturn of £0.48m favourable variance was a significantly improved position to the forecast at December 2019; and also highlighted the costs incurred as a result of the severe floods in February 2020.

 

The Chief Officer Resources then referred to Appendix 1 and gave a brief overview of the variances for each Directorate.

 

She also referred to paragraphs 5.1.25 – 5.1.27 which detailed the Fees and Charges.

 

Finally, she drew Members attention to paragraph 5.1.29 and the Financial Efficiency Projects and the target of £3.35m and that 98% (£3.28m) had been achieved.

 

The Leader thanked the Chief Officer Resources for the report, and noted the remarkable turnaround from December 2019; and reiterated how well the Council had done over the last 2 to 3 years in managing its budget.  He continued that it showed that Directorates working together can achieve the targets that were set.  The continued commitment to the financial strategy had put the Council in a good position to achieve the budget at the end of the year.

 

He noted that adverse variances would continue into the current financial year and sought clarification that the Cost Pressure sub group would continue to meet to continually monitor those issues.

 

The Chief Officer Resources confirmed that the Cost Pressure sub group would continue to meet.

 

The Executive Member Social Services commented on financial position and congratulated the Social Services Directorate on achieving its favourable variance.

 

RESOLVED that the report be accepted and that the Executive considered and approved the report and provided appropriate challenge to the financial outcomes in the report. (Option 1)