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Agenda item

Financial Monitoring Report 2018/19: Position at 31/08/18 with Projected Outturn to 31/03/19

Joint Report of the Corporate Director of Resources / Treasurer to the Joint Committee and the Corporate Director of Regeneration and Local Services.


The Head of Finance and Transactional Services referred Members to Financial Monitoring Report, as set out in the usual format, for the period to 31 August 2018 and with projected outturn to 31 March 2019 (for copy see file of minutes).


The Joint Committee noted that there was a projected revenue outturn surplus of £257,573 more than the budgeted position, with the reasons for the major variances set out in detail within the report.  It was added that this would be transferred to the Major Capital Works reserve for future use in terms of issues identified within the SAMP and for the eventual replacement of the cremators.


Members noted a projected total reserve of approximately £1.9 Million at the year-end, giving a strong financial position.


The Vice-Chairman asked when the loans taken out in terms of cremator replacement would be completed and whether further loans would be required in future.


The Chairman noted the healthy position in terms of the budget, income and reserves. 

The Head of Finance and Transactional Services noted that the last year would be next year and therefore for the 2021/22 financial year he could provide options at that time for the Joint Committee in terms of potential of: investment of the monies that would have been allocated to service the loan; offering a reduction in the charge for services; accelerating the works as set out within the SAMP; providing additional surplus distribution to the two constituent Authorities.




That the April to August 2018 Financial Monitoring Report and associated provision revenue and capital outturn positions at 31 March 2019, including the projected year end position with regards to the reserves and balances of the Joint Committee, be noted.

Supporting documents:


Democratic Services
Durham County Council
County Hall
County Durham
03000 269 714