Issue - meetings

To receive a verbal report from the Group Manager for Financial Services presenting a financial update in respect of the income and expenditure so far in the year.

The Group received, and NOTED, a verbal report from the Group Manager for Financial Services updating it on the position regarding income and expenditure so far in the year.

The following was highlighted regarding the current position:

·         There had been a slight improvement in figures between June and July 2019.

·         The main area of concern lay in the area of Planning which was predicted to show a significantly under budget level of fees by the end of the year. This was due to a combination of factors including some that were offset by Earmarked Reserves (£159k). The residual overspend related to £329k of planning income due to a drop off in large applications. However, the comment was made that this position might be improved as a result of the Tiverton Eastern Urban Extension and North West Cullompton developments.

·         Car park income was still down in the MSCP although there had been some increased income in the market car park to offset this.

·         The Housing Revenue Account had not moved from the favourable position that was reported in June 2019.

A brief discussion took place regarding the recent approval by the Cabinet of the Car Parking Working Group recommendations and when these revised fees might come into force. It was explained that there was still a consultation process to go through first and that it would take 3 months for the off street parking order to be processed. However, it was hoped that the new charges would come into effect sometime shortly after Christmas 2019.