Agenda item

To receive a report of the Deputy Chief Executive (S151) presenting a financial update in respect of the income and expenditure so far in the year.

The Group had before it, and NOTED, a report * from the Deputy Chief Executive (S151) presenting a financial update in respect of the income and expenditure so far in the year.

The following was brought to the attention of the Group and discussion took place with regard to:

·         The report and appendices before the Group only provided data up to the end of quarter three. The forecasted deficit figure in relation to the year-end position had previously been identified as £252k, this had now risen to £292k. This had mainly been due to an under recovery in the Revenues and Benefits area and Planning income being down on budget.

·         The HRA was showing a healthy forecasted under spend of £668k. This was ring fenced however and would be returned to the housing maintenance fund at the end of the financial year.

·         The 3 Rivers Development Company impairment of loans being a provision at this stage.

·         The shortfall in relation to the Premier Inn car parking income. A detailed breakdown was requested and it was AGREED that the officer would provide this additional information.

·         Concerns regarding those people on low incomes who may not be able to pay their rent or Council Tax.

·         Concerns regarding the budgeted income per car parking space in each of the car parks not meeting its target, especially in relation to the Multi-Storey Car Park when so much had been spent on improvements and security.

·         Agency fees being high in the Waste Services area. Such fees were reactive and it was difficult to budget for them.

Note: * Report previously circulated; copy attached to the signed minutes.