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Quarter 1 Finance Management Report

Meeting: 12/09/2019 - Growth, Infrastructure and Resources Scrutiny Committee (Item 224)

224 QUARTER 1 FINANCE MANAGEMENT REPORT pdf icon PDF 104 KB

To note Report No. 114/2019 from the Strategic Director for Resources.

Additional documents:

Minutes:

Report No.114/2019 was received from the Director for Resources, for information only.

 

 

The Committee NOTED the report.


Meeting: 20/08/2019 - Cabinet (Item 182)

182 QUARTER 1 FINANCE MANAGEMENT REPORT pdf icon PDF 104 KB

(KEY DECISION)

 

Report No.114/2019

Additional documents:

Minutes:

Report No.114/2019 was received from the Strategic Director for Resources.

 

Mr G Brown, Deputy Leader and Portfolio Holder for Planning, Environment, Property and Finance introduced the report, the purpose of which was to inform Cabinet and all members of the full year forecast position as at Quarter 1 for 2019/20 and to highlight issues that may impact on the Medium Term Financial Plan to enable them to maintain sound financial management of the Council’s operations.

 

During discussions the following points were noted:

 

·         The Council was forecasting a surplus of £261k against a deficit of £249k.

·         Income on investments has been higher than expected as there were no current projects utilising the £10m capital investment fund

·         There were a number of staff vacancies that were contributing to current underspends.

·         Continuing pressures included meeting Special Educational Needs, Adult Social Care and additional work done on the Woolfox site for the Local Plan

·         The Government had announced that it was going to have a single year spending review rather than completing its comprehensive review. It was not known whether this would be favourable to the Council but if the settlement was similar to 2019/20 then it would be better than expected.

·         Capital spend had been approved for the new boiler at Catmose and on the redevelopment of unit 4 at the Oakham Enterprise Park.

·         The Strategic Director for Resources confirmed that in order to remove capital schemes that would not proceed from the capital programme then a decision would have to be made by the original decision makers who approved the funding e.g. Cabinet or Council. 

·         There had been two high cost cases that had been transferred into Adult Social Care, one from Children’s services and one who was a prison leaver. One case could have been reasonably predicted and the budget updated, and the new structure within the People’s directorate would facilitate this in the future. The prison leaver had never had any connection with Rutland and there had been a dispute over responsibility between RCC and 2 other authorities. The Secretary of State had deemed that the prison leaver was the responsibility of RCC but he had been given some misinformation so the issue was still in dispute.

 

DECISIONS

 

Cabinet:

 

1.    NOTED the 2019/20 estimated revenue and capital outturn positions as at Quarter 1

2.    NOTED the approved changes to the original budget detailed in Appendix A including the decision to use ring fenced BCF reserves to part fund the 19/20 programme

3.    NOTED the additional pressures for 2020/21 detailed in para 2.4

Reasons for the decision

 

As the Council is required to make savings over the medium term, the Q1 position is positive, despite a number of significant variances.