To receive a report from the Deputy Chief Executive (S151) 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 Deputy Chief Executive (S151) presenting a financial update in respect of the income and expenditure so far in the year.
Consideration was given to the following:
· The forecasted General Fund deficit for the current year was £305k. A large part of this related to the under recovery of planning fees. This was a difficult area to address as it was a demand led service. It was hoped that things would pick up in the New Year and there would be more momentum to getting planning applications approved and built out. It was explained that the under recovery of planning fees reflected the national position and therefore was not impacting on this authority alone.
· For the HRA, the forecasted overspend had been £10k, however, there had been a turnaround in dwelling rents and the situation was looking more favourable.
· Whether consideration was being given to other council’s building houses bordering Devon and their proximity to future possible developments within Mid Devon, for example, houses being built in the Taunton area might actually be closer in proximity to Mid Devon developments than say Bickleigh.
Note: * Report previously circulated; copy attached to the signed minutes.