Issue - meetings

To present a financial update in respect of the income and expenditure so far in the year.

The Group had before it and NOTED a report * from the Director of Finance, Assets & Resources presenting a financial update in respect of the income and expenditure so far in the year.

The Principal Accountant highlighted the projected overspend which was currently £134k, 1.6% of the net budget, which was an improvement on the projection at the end of quarter 1.

Discussion took place regarding Leisure Service income which had increased significantly but was still £90k down on a challenging budget.  Additional costs to the management restructure would result in significantly reduced running costs in the future.

A major contributor to the overall Planning forecast variance was that income from Planning fees was forecast to be £91k lower than budgeted.

Discussion took place regarding:

·         Savings made due to vacancies not filled in Housing Services;

·         Delays to building projects;

·         Spend on the Greater Exeter Strategic Plan and Forward Planning works at Junction 28;

·         Leisure Services were scheduled to be cost neutral by 2020.

Members praised the new Leisure Service website which they considered to be a vast improvement, commercially minded and easy to use.

Note:- Report * previously circulated and attached to Minutes.