Agenda item

To consider the report of the head of finance/senior business partner (Capita) (attached).

The committee considered the report of the head of finance and senior business partner (Capita) on the final year end position for revenue and capital expenditure against budget for the financial year 2017/18.

Simon Hewings, strategic finance manager, introduced this item. Also present to answer questions were Councillor David Dodds, Cabinet member for finance, Mark Stone, chief executive, and Richard Spraggett, senior business partner (Capita).

With regard to revenue expenditure, there had been an underspend of £6.7 million which had been transferred to the council’s reserves. With regard to capital expenditure, £12 million had been slipped into future years. 

In response to members’ questions, it was reported that:

·         Given the level of underspends, the council’s senior management team would be carrying out a review of the base budget.

·         Some of the carry forwards had appeared in previous budgets.

·         The vast majority of housing projects were undertaken in partnership with other bodies. Accordingly, slippages were often not within the council’s control.

·         Officers agreed to circulate further information as to why a reduction in recharges in respect of development and housing projects was categorised as “increased income against budget”, whereas a reduction in recharges in respect of planning was categorised as “reduced income against budget”.

·         Consideration would be given to providing more clarity in the presentation of the financial information.

RESOLVED: to note the overall outturn position of the council as well as the outturn of individual service areas.