Issue - meetings

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

Noted the projected budget outturn for 2013/14 together with details of variations from the previous forecast.

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 £21.1m which was 1.6m less than assumed in the draft 2013/14 budget.

It was reported that the New Homes Bonus for 2015/16 would be based on the increase in houses in the year ending October 2014. Members were encouraged to note that the Council was currently ahead of its profiled new-homes target. Although income from Business Rates was forecasted to be on budget, it was explained that the impact of appeals makes the forecast subject to considerable volatility.

With regard to achievement of revenue savings, Members expressed concern that only 58% of savings within the 2013/14 Medium Term Plan have so far been achieved, with four schemes exceeding a variance of £20,000.  In the discussions that ensued, Executive Councillors stressed the importance of setting challenging, robust but realistic targets.

Having noted the position on debts collected and written off during the period October to December 2013 and in requesting that future monitoring reports be submitted to the Overview and Scrutiny Panel (Economic Well-Being), the Cabinet

RESOLVED

  that the spending variations in the Revenue Budget be noted.