Financial Monitoring (00.28.21)
To consider a verbal report from the Principle Accountant presenting the financial monitoring information for the income and expenditure to date.
The Committee were given and NOTED a verbal report * from Principal Accountant presenting a financial update in respect of the income and expenditure so far in the year.
He explained a predicted overall variance of £247k overspend on the General Fund to end of July with the movement from June of £178k of which £125k related to services reporting to Community PDG.
The main reasons for the overspend was a water leak in the Exe Valley Leisure Centre to which SWWA were attempting to charge £52k for the water dispensing into the SWWA drainage system and a £70k drop in Planning Fee income out of a budget of circa £1m.