Agenda item

The Committee were provided with an update on the Council’s financial position for Quarter 2 2017/18. The Director of Finance and Resources stated that the financial position had improved by £1.617m which was attributed to investment returns of £500k, budget adjustments of £530k, street lighting maintenance £160k and capitalisation of staff costs of £100k.

It was explained that the main causes for the budget pressures related to the Temporary Accommodation and Homelessness budget due to a sustained increase in demand for temporary housing; a lower than budgeted income expected for Cemeteries and Crematorium, Registrars and Parks and Open Spaces, an overspend on the arvato (Phase 1) Contract in Transactional Services and slippage in delivering the agreed savings on the legal services budget. Management actions and initiatives to address the budget pressures were outlined.

A Member raised the possibility of introducing incentives for individuals to encourage them to pay their council tax by Direct Debit and it was noted that officers would explore this further.

Referring to the current overall financial position for Quarter 2 it was confirmed that this was much better than anticipated, which was mainly due to income generated from Slough Urban Renewal. 

Resolved - 

(a)  That the latest financial position be noted.

(b)  That the proposal to delegate the decision for agreeing the formula for schools funding for 18-19 as outlined in paragraph 6.3.4 of the report be noted.

(c)  That the budget virements as listed in paragraph 8 of the report be noted.

(d) That the write offs as detailed in paragraph 9 of the report be noted.