Issue - meetings

REPORT OF THE SERVICE DIRECTOR – RESOURCES

To inform the Finance, Audit and Risk Committee of the summary position on revenue income and expenditure forecasts for financial year 2018/19 as at the first quarter.

RESOLVED:  That the report of the First Quarter Revenue Monitoring 2018/19 be noted.

The Accountancy Manager presented the report of the First Quarter Revenue Monitoring 2018/19.

The Accountancy Manager explained that the report reflected revenue position as at end June 2018 and how resources were broken down and tracked through the year.  The report reflected marginal change overall, showing increases in recycling costs and conversely an increase in expected income in garden waste, at more than 50% take up which was higher than the level assumed.

Two additional members of staff had been proposed by the Senior Management Team, (SMT) to support the commercialisation drive across the Authority.  SMT had proposed that during the first two years the posts be funded from the special reserve, afterwards, it was hoped that the two new officers appointed would fund themselves through the additional income produced from their work.

The report set out proposed efficiencies and predicted that budgets were expected to be spent.

The report provided an update on key income streams, including outcomes of the strategic parking review.  In terms of funding, estimate of business rate income had been updated from a baseline level to a revised estimated figure and showed an increase of £225k.  This was, the main reason for the overall increase in the expected general fund balance at the end of the year by £192k.

RESOLVED:  That the report of the First Quarter Revenue Monitoring 2018/19 be noted.