Issue - meetings

To consider a report by the Assistant Director, Finance and Resources.

noted the spending variations in the Revenue Budget including the expected position on new homes bonus for 2014/15, potential for variations on Council Tax Support and Business Rates for 2014/15 and the position on debts collected and written-off in the second quarter of this financial year.

The Cabinet received a report by the Assistant Director, Finance and Resources (a copy of which is appended in the Minute Book) on the projected budget outturn for 2013/14 together with details of variations from the previous forecast.

Members were advised that the expected outturn of revenue expenditure was £21.8m which represented a saving of £1.5m in that previously forecasted.  It was reported that the New Homes Bonus for 2014/15 would be based on the increase in houses in the year ending September 2013.  Although the authority was behind its target by 7%, which would reduce next year’s NHB by £41k, this would be more than offset by the growth in affordable homes and a risk contingency of £50k.

It was also pointed out that the cost of Council Tax Support was expected to be lower than that budgeted, income from Business Rates would be lower and that Sundry Debtors remained consistent with previous collection rates.

Having noted the position on debts collected and written off during the period July to September 2013, the Cabinet

RESOLVED

  that the spending variations in the Revenue Budget be noted.