61 MCa/17/32 - Financial Monitoring 2017/18 - Quarter 2 PDF 410 KB
Decision:
It was RESOLVED: -
1.1 The potential or likely variations in relation to the General Fund, Housing Revenue Account and Capital Programme compared to the Budget be noted.
1.2 That, subject to any further budget variations that arise during the rest of the financial year, the following net transfers of £1,112k be noted.
a) The balance of the General Fund surplus of £932k referred to in section 11.8 of the report be transferred to the Transformation Fund;
b) Transfer of £45k, being the favourable variance for Planning legal costs to the earmarked reserve, referred to in section 11.8 of the report;
c) Transfer of £135k, being the favourable variance for Homelessness to the earmarked grants reserve, referred to in section 11.8 of the report.
Reason for Decisions: To ensure that Members were kept informed of the current budgetary position for both the General Fund and HRA.
Alternative Options Considered and Rejected: That the current budgetary position for the General Fund and the HRA was not reported.
Any Declarations of Interest declared: None
Any Dispensation Granted: None
Minutes:
Councillor Whitehead, the Cabinet Member with responsibility for Finance, introduced report MCa/17/32 and moved the recommendation which was seconded by Councillor Burn.
In response to questions Councillor Whitehead with the support of the Chief Executive explained there had been an improved management structure regarding BMBS Property Services. Both Property Services and Building Control reported to the Assistant Director of Housing. As some Councillors still considered this to be confusing further detail would be given after the meeting.
It was noted staffing was the biggest expense and this would be monitored. There needed to be the right balance of service delivery and staffing costs within budget. Free car parking in Stowmarket over the Christmas period would give the flexibility to encourage shoppers and would not have a significant impact.
By 7 votes to 2.
It was RESOLVED: -
(1) The potential or likely variations in relation to the General Fund, Housing Revenue Account and Capital Programme compared to the Budget be noted.
(2) That, subject to any further budget variations that arise during the rest of the financial year, the following net transfers of £1,112k be noted.
a) The balance of the General Fund surplus of £932k referred to in section 11.8 of the report be transferred to the Transformation Fund;
b) Transfer of £45k, being the favourable variance for Planning legal costs to the earmarked reserve, referred to in section 11.8 of the report;
c) Transfer of £135k, being the favourable variance for Homelessness to the earmarked grants reserve, referred to in section 11.8 of the report.
Reason for Decisions: To ensure that Members were kept informed of the current budgetary position for both the General Fund and HRA.