FINANCIAL MONITORING (00-59-44)
To consider a verbal report of the Deputy Chief Executive (S151) presenting financial monitoring information for the income and expenditure to date.
Minutes:
The Committee received an verbal update from the Deputy Chief Executive (S151) with regard to financial monitoring information for the income and expenditure to date.
He informed the meeting that there had been no significant deterioration in the proposed budget gap for end of year however (as of the end of July 2018) it had increased to over £100k, this was mainly down to a decrease in car parking income specifically the multi-storey car park and an overspend in the waste service due to vehicle hire costs, planning income was also down. However, this was more likely to be more than compensated by the additional income from being part of the business rates pool pilot.
The Housing Revenue Fund was on budget however there were concerns with regard to the impact of Universal Credit which was due to be phased into the Crediton area from 24 September.
Consideration was given to:
· The need to work closely with the DWP with regard to Universal Credit
· Cashless payments and the need to look into options for people who may have problems with the scheme.
· Whether the loss of parking income for the MSCP had been budgeted for and the proposed size of bays in the car park
· Whether the building works in the MSCP had impacted on other car parks in the town.
· The impact of the sale of the Crediton office on Citizens Advice in Crediton.
Note: *Report previously circulated and attached to the minutes