Agenda item

The Committee were provided with an update on the latest revenue financial position for the Council for the 2017/18 financial year. At the time of publication of the report, the total estimated net commitment for the year across all service areas was £104.899m compared with a net budget for the council of £103.548m.  This represented a budget pressure of £1.351m.  However, there were planned in year savings of £0.699m that were still expected to be achieved and a number of additional savings including:

a)  Additional Savings - £107k within the Adult and Communities Directorate to offset the income shortfall on the Cemeteries & Crematorium and Registrars services.

b)  Contract Renegotiation - £350k – The Place and Development Directorate expected a saving resulting from the expected renegotiation of contracts.

c)  One off income - £252k – Further expenditure had been identified within the Finance & Resources Directorate as being eligible for funding from one off sources.

The forecasted budget pressures related to the Special Educational Needs Transport budget, due to an increase in the number of children who were eligible for the service; an overspend in temporary accommodation and Homelessness and an income shortfall in Cemeteries and Crematorium and Registrar services. Members were provided with an outline of management actions proposed to address the overspends which included a one off saving of £350k from contract revaluations. 

A Member sought clarification regarding the age of the debts that were being considered to be written off and was informed that the majority related to cases that were pre April 2012. The Committee were assured that no cuts would be made to frontline services during the current financial year. 

Resolved – a) That details of the latest financial position be noted.

 b) That the budget virements as listed in paragraph 7 of the report be noted.

c)  That the write offs as detailed in paragraph 8 of the report be noted.