22 Finance Monitoring Quarter 1 2020/21 PDF 351 KB
The Head of Financial and Customer Services presented the Finance Monitoring Report for the first quarter of the 2020/21 financial year.
Members were advised that, based on the position in the first quarter, an overspend of £158,000 was anticipated by the end of the financial year. The overspend was primarily anticipated in relation to the Strategic Purpose; Run and Grow a Successful Business. This reflected the anticipated loss of income for Rubicon Leisure during the year.
The savings and income that had been secured to date had been outlined in the report. There were budget pressures arising in respect of Dial a Ride and Shopmobility services where income targets had not been met, but it was anticipated that this was mainly due to the impact of Covid-19.
There was a £211,000 underspend in the capital programme during the first quarter of the financial year. This was attributed mainly to the vehicle replacement scheme however, it was anticipated that expenditure on this scheme would be completed by the end of September 2020.
A gap of £2 million was anticipated for the HRA by the end of the year, due to a reduction in rent payments. This pressure had not been reflected in the report but would emerge in future reports to Committee. There had been a reduction in expenditure on repairs and maintenance and management and supervision, both of which were reflected in the figures for the HRA. During the lockdown there had been restricted access to Council properties which had impacted on expenditure on repairs and maintenance. There were some vacancies in management positions within the Housing Department, which had been reflected in the HRA, but staff were being recruited so expenditure was expected to reflect budgets in future.
After the report had been presented Members discussed the following points:
· The capital expenditure anticipated for the site of the bridge at Green Lane, Studley and what this would entail. Officers agreed to provide a written assessment of the work to Members.
· The potential for the site of the bridge at Green Lane, Studley to be the focus for housing development and for affordable housing or social housing to be provided at this location.
· The financial costs involved in maintaining the bridge at Green Lane, Studley.
· The Leader’s offer to other organisations to take responsibility for the bridge and the requirements of any organisation taking on this responsibility. Officers explained that any organisation assuming responsibility for the bridge would need to be able to maintain the structure in accordance with health and safety and other legal requirements.
· The potential for the capital funding generated by the sale of the site at Green Lane, Studley to be invested in social housing in the Borough.
1) the current financial position in relation to revenue and capital budgets for the period April 2020 – June 2020 as detailed in the report be noted; and
2) the training budget held within the Human Resources service, is allocated to a shared service ... view the full minutes text for item 22