Agenda item

Financial Monitoring Report 2018/19 - Provisional Outturn as at 31/03/2019

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

Minutes:

The Head of Finance and Transactional Services, Paul Darby referred Members to the Financial Monitoring Report, with the provisional outturn as at 31 March 2019 (for copy see file of minutes).

 

The Joint Committee noted that the updated projected revenue outturn was showing a surplus, of £888,024 against a budgeted surplus of £752,693.  It was noted that the major variances were set out within the report.

 

Members noted that in terms of the capital programme, this was reported as being £64,356 under budget, with the underspends being set out within the report.  It was noted outstanding items would be carried forward into the 2019/20 Capital Budget. 

 

Members noted a projected total reserve of £1,889,684 at the year-end, giving a strong financial position.

 

Councillor P Jopling noted the strong financial position of the Crematorium and congratulated Officers for their work.  She asked if the numbers fluctuated over time and had there been any impact from other facilities.  The Head of Finance and Transactional Services noted that there was a general trend of more cremations, and while Durham Crematorium did face competition, the number of cremations forecast was prudent.  He added Members were aware from previous meetings as regards the levels of fees and charges and noted he felt this help ensure Durham was well placed in terms of affordability.  The Head of Finance and Transactional Services reminded Members of the planning permission that had been granted regards a crematorium at Castle Eden, though no development had taken place as yet.  He reassured Members that those issues were noted, that Officers were mindful of the risks and referred back to the previous report which set out the last nine years statistics in relation to numbers of cremations.

 

Councillor P Jopling noted that the extras, such as memorials and plaques were also useful in helping to generate income and asked how these products and services were marketed.  The Head of Finance and Transactional Services noted the Bereavement Services Manager engaged with Funeral Directors and there had been investment in the Crematorium website.  The Bereavement Services Manager reminded Members of the recent inclusion of direct cremations and noted that the Crematorium had seen a number of people take up this option.

 

Resolved:

 

That the April 2018 to March 2019 Revenue Spend Financial Monitoring Report and associated Provision Outturn position at 31 March 2019 be noted.

Supporting documents: