To consider the financial monitoring report for the income and expenditure for the nine months to 31 December 2019 and the projected outturn position previously presented to Cabinet on 13th February 2020.
The Group had before it a report of the Deputy Chief Executive (S151) providing 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 As at January, 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.
Consideration was given to: whether the income from renewables on council housing was reflected within the HRA.
The Chairman indicated that the report should be NOTED and that he had been advised by the Leader that certain concerns raised within the report were being addressed and would be brought before the Cabinet in due course.
Note: *Report previously circulated, copy attached to minutes.