Agenda item

Joint Report of the Corporate Director of Regeneration and Local Services and the Corporate Director – Resources – Finance Manager, Resources.

The Chairman introduced the Principal Accountant, Resources, Paul Raine to speak to Members in relation to the Quarter 2, 2016/17 Revenue and Capital Outturn (for copy see file of minutes).

The Principal Accountant noted that for future Revenue and Capital Outturn reports, the areas covered by the former RED Service were now part of Regeneration and Local Services (REaL). 

Members noted the service had reported an outturn position with a cash limit underspend of £0.392 million against a revised annual General Fund Revenue Budget of £26.781 million, in comparison to the Quarter 1 estimate of £0.299 million.  Members noted the variances within the budget, with the detailed explanations as set out within the report.  The Committee were informed that the service grouping delivered the Medium Term Financial Plan (MTFP) savings for 2016/17 of £1.118 million.

As regards the Capital Programme 2016/17, the Principal Accountant explained that the actual spend to date was £17.214 million with a breakdown of the major capital projects given at Appendix 2 to the report.

The Chairman thanked the Principal Accountant and asked Members for their questions on the report.

Councillor J Clare asked as regards an underachievement of rental income under asset management, set out on page 44 of the report, £366,000.  The Principal Accountant noted that the service had started to look at the issues and work was ongoing as regards some of the properties, with it hoped that from 2017/18 there would be an improvement.

Resolved:   

That the report be noted.