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 presenting a financial update in respect of the income and expenditure so far in the year.
The Group Manager for Financial Services outlined the contents of the report stating that the figures before Members were from the Quarter 3 monitoring calculations. The forecast General Fund deficit for the current year was £292k. She highlighted some of the significant variances which had led to the new deficit figure, that of reduced overpayment recovery and software costs for Revenues and Benefits; and with regard to Trade Waste and Recycling an increase in customers and reduced discounts.
The surplus within the Housing Revenue Fund had reduced to £618k with monies being spent on disabled facilities. The appendices within the report outlined the Capital Programme.
It was the intention in future to produce financial information which was more relevant to each Policy Development Group. Loss of income from car parking and empty shops were two significant areas falling under the remit of this Group.
Note: * Report previously circulated; copy attached to the signed minutes.