Issue - meetings
Budget Monitoring Report including allocation of contingency and capital funding
Meeting: 19/03/2020 - Executive (Item 705)
705 Budget Monitoring Report including allocation of contingency and capital funding PDF 159 KB
Additional documents:
- Appendix 1_2019-20 GF Revenue Monitoring by Individual Variance_Month 10_Executive, item 705 PDF 233 KB
- Appendix 2_2019-20 Revenue by Service Area_Month 10_Executive, item 705 PDF 198 KB
- Appendix 3_Additional GF Budget Risks_Month 10_Executive, item 705 PDF 143 KB
- Appendix 4_Savings Tracker_Month 10_Executive, item 705 PDF 252 KB
- Apppendix 5_Capital Programme_Month 10_Executive, item 705 PDF 209 KB
Decision:
AGREED RECOMMENDATIONS
Reason for decision – as specified in the report.
Other options considered - none.
Conflicts of interest/dispensations granted – none.
Minutes:
RESOLVED:
2.1
That the forecast revenue outturn for the General Fund (Table 1 of
the report) of an overall underspend of (-£3.318m) compared
to a forecast underspend of (-£1.973m) in the previous
reported position (Section 3 of the report) be noted.
2.2
That management action is required over the course
of the financial year to bring forecast overspends back to within
agreed cash limited budgets where possible (paragraph 3.2 of the report) be
noted.
2.3
That, as agreed in the 2020/21 budget report, that
any underspend on the 2019/20 General Fund budget at the end of the
financial year will be transferred to General Fund reserves and
balances in order to improve the financial resilience of the
Council (paragraph
3.4) be noted.
2.4
That the breakdown of the forecast General Fund
outturn by individual variance at Appendix 1 and by service area at
Appendix 2 of the report be noted.
2.5 That the schedule of additional budget risks that are not included in the current forecasts (paragraph 3.3 and Appendix 3 of the report) be noted.
2.6
That the back pay of out of hour premiums to
colleagues in the Cleaning Service that had not been applied since
the service moved back to Islington in October 2010 be agreed and
that this is included in the forecast outturn position be noted
(paragraph 4.12 of the
report).
2.7
That the latest position on the delivery of the
agreed 2019/20 to 2022/23 savings programme and on the earmarked
corporate transformation reserve (Section 5, Table 2 and Appendix 4
of the report) be noted.
2.8
That the now secured savings
classified as ‘Closed’ can be removed from the savings
tracker (paragraph 5.2 and Appendix 4 of the
report) be agreed.
2.9
That the HRA forecast is a net break-even position
(Table 1 and Appendix 2 of the report) be noted.
2.10
That charges for HRA reception centres owned by the
council for the purpose of providing temporary accommodation to
homeless households be amended for the financial year 2020/21 to
include a 5% uplift on the target rent and the introduction of a
service charge which better reflects the cost of the services
provided to residents (paragraphs 6.2-6.5 of
the report) be agreed.
2.11
That the latest capital position and key capital
variances with forecast capital expenditure of £132.394m in
2019/20 against the existing 2019/20 capital budget of
£155.628m (Section 7, Table 3, and Appendix 5 of the report)
be noted.
Reason for decision – to allow members to monitor the budget.
Other options considered – none other than as specified in the report.
Conflicts of interest/dispensations granted – none.