Issue - meetings

To receive 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 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.

Key highlights within the report included the following:

·         The General Fund was forecasted to be overspent by £64k with £31k of this falling under the remit of this Group.

·         The largest variance related to some salary savings.

·         The Housing Revenue Account (HRA) was due to be underspent by £250k.

·         The largest variance in the HRA related to savings due to restructuring of staffing across several teams as well as several smaller savings across operational budgets.

·         Garage income was ahead of target.

Discussion took place with regard to publicising vacant garages and using the knowledge of Ward Members to identify vacant units in their own areas.

Note: * Report previously circulated; copy attached to the signed minutes.