The Cabinet Member for Finance, Revenues and Benefits presented the report on the Council’s revenue and capital position for 2010/11 as at the end of September 2010.
The projected service overspends, taking account of the in-year savings of up to £8.4 that were previously agreed, have increased from £3.2m to £3.9m since the last report, the main reason being an increase in projected overspends in the Customer Services department. The Cabinet Member advised that meetings to discuss the current overspend within the Customer Services and Children’s Services departments are to take place as soon as possible.
The position for the Housing Revenue Account (HRA) has improved, with the projected deficit now at £302,000 compared to £417,000 last month. The Cabinet Member also referred to the proposed return to the contingency budget of £603,000 of the £1 million allocation agreed by Minute 8(xii)(e) (8 June 2010) which was allocated to support the Revenues and Benefits service, and to a number of proposed amendments to the Capital Programme to better reflect spend profiles and progress previously approved projects.
Agreed, as a matter of good financial practice, to:-
(i) Note the current projected outturn position for 2010/11 of the Council’s revenue and capital budget as detailed in paragraphs 3 and 5 and Appendices A and C of the report;
(ii) Note the position for the HRA as detailed in paragraph 4 and Appendix B of the report;
(iii) The return to contingency of £603,000 from Customer Services as detailed in paragraph 3.1.5 of the report;
(iv) The changes to capital budgets as detailed in paragraph 6 and Appendix D of the report;
(v) Note the Financial Health Indicators for quarter two as detailed in paragraph 7 and Appendix E of the report.