Issue - meetings

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

The Group Manager for Finance explained to the Group that the October variance was a £95k deficit and this had increased to £234k in November.

She provided Members with the main areas of movement since the October monitoring report which included:

·         Environmental Services - Net S106 expenditure was slightly less than previously forecast (£9k) and that this was offset by Ear Marked Reserves (EMR).

·         Waste – (£15k) Garden waste and permit sales were down against budget but numbers may pick up before year end.

·         Cemeteries – Income below previously forecast (£10k)

·         Planning – S106 expenditure had increased by £82k, but this was offset by EMR transfer. Planning income was a further £20k less than forecast at the October monitoring.

·         IT – A salary pressure had been reduced by £11k.

·         Revenues and Benefits – Housing Benefit Overpayments Recovery forecasts had dropped another £60k – revised forecast following identification of some duplication.

·         NNDR – Retained Business Rates were forecast to be £48k lower than forecast in October following appeals.

In response to questions raised she confirmed that she would provide details of the £20k Planning income forecast and what this included.

She explained that the Budget setting process included trend analysis and assumptions of income to the end of the financial year.