Agenda item

Performance, Finance and Project Reporting for Monitoring to 31st July 2011

Decision:

(a)  That the current projected outturn position on the General Fund of an overspend of £32K be noted.

 

(b)  That that the Housing Revenue Account (HRA) reported a forecast surplus of £43K be noted.

 

(c )  That the identified areas of risk and emerging issues be noted.

 

(d)  That  the revisions made to the format of the performance section of the report in line with the consultation carried out with members at the last Overview and Scrutiny committee be noted.

 

(e)  That the summary of the councils Council’s Gold Projects status as at 31st July 2011 be noted.

Minutes:

The Cabinet considered a report detailing the current financial position of the Council.  A summary of each Directorates’ spend, as at 31st July 2011, was provided.  It was noted that an overspend of £23K was projected on the 2011/12 General Fund.  The Cabinet was informed that the Housing revenue account had been subject to a pension fund adjustment and that, consequently, the balance stood at £9.454m, which was £294,000 higher than had been budgeted for.

 

In response to a question with regard to reviewing outstanding deposits of the Council, it was stated that credit ratings of new investments would be considered carefully; however it was difficult to amend the position of existing deposits, which had been placed prior to the economic down turn.

 

A monthly summary was provided with regard to the status of the ten Gold Projects.  One new project, ‘Safeguarding Improvement Plan’, had been added to the list for the first time, in response to the recent Ofsted inspection of Safeguarding and Looked after Children Services.

 

Resolved –

 

(a)  That the current projected outturn position on the General Fund of an overspend of £32K be noted.

 

(b)  That that the Housing Revenue Account (HRA) reported a forecast surplus of £43K be noted.

 

(c )  That the identified areas of risk and emerging issues be noted.

 

(d)  That  the revisions made to the format of the performance section of the report in line with the consultation carried out with members at the last Overview and Scrutiny committee be noted.

 

(e)  That the summary of the councils Council’s Gold Projects status as at 31st July 2011 be noted.

Supporting documents: