Issue - meetings

To receive and note 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.

The Principal Accountant outlined the key highlights within the report which were as follows:

·         The forecasted General Fund deficit for the current year was £130k.

·         The most significant service movements for the previous month were an income shortfall in Leisure Services and for the Building Control Partnership.

·         Car parking income was down against budget for the first quarter due to pay and display machine replacements but it was still too early to predict a year end forecast.

·         Market income was down as was footfall within Tiverton.

·         Expectations regarding leisure income had been over ambitious. As part of the Medium Term Financial Planning process a more realistic view would need to be taken.

Consideration was given to:

·         It was hoped that as part of the autumn statement the Government would make an announcement regarding the ability for local authorities to raise planning fees.

·         Clarification was sought regarding the numbers of day and night car parking permits. The Principal Accountant stated that he would seek further information and report back to the Group.

·         Discussions had commenced on leisure service provision going forwards.

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