To receive a report from the Director of Finance, Assets & Resources presenting the revenue and capital outturn figures for the financial year 2017/18.
The Group hade before it, and NOTED, a report * from the Deputy Chief Executive (151) presenting the revenue and capital outturn figures for the financial year 2017/18.
The Group Manager for Financial Services briefly outlined the contents of the report stating that there had been an overall underspend on the General Fund in 2017/18 of £159k and for the Housing Revenue Account (HRA) the underspend had been £255k. Approval had been given to carry forward some of the capital budget. The underspend on the HRA meant that money could be transferred across to support the 30 year modernisation plan.
Discussion took place regarding:
· A variance of £377k under Property Services. This was a complicated area with lots of ins and outs throughout the year. It was requested that a full breakdown be provided to the Group as to how what made up this amount.
· The variance of £48k under Grounds Maintenance and why this was. It was explained that the relevant factors in relation to this included having to replace equipment that had been stolen and costs incurred by the relocation to Carlu Close. The Group were reassured that 24hr security surveillance was now in situ and that equipment was kept in locked containers.
· Variances in relation to the Tiverton Town Hall and the Crediton Office Building. It was requested that a full breakdown showing the makeup of these figures be provided to the Group.
· The effect that a proposed new superstore may have on the centre of Tiverton.
Note: * Report previously circulated; copy attached to the signed minutes.