Issue - meetings

REPORT OF: 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 end of
the second quarter.

RESOLVED: That the Finance, Audit and Risk Committee notes the report, to be presented to the Cabinet.

REASON FOR DECISION: To provide an opportunity for the Committee to comment as appropriate on the summary position on revenue, income and expenditure forecasts for the financial year 2018/19, as at the end of the second quarter.

Audio Recording – Start of Item – Session 1 – 1 hour 11 minutes 41 seconds

The Accountancy Manager presented a report of the summary position on revenue income and expenditure forecasts for financial year 2018/19, as at the end of the second quarter. The forecast variance was a £17k decrease on the net working budget of £15.293m for 2018/19, with an ongoing impact in future years of £300k decrease and a request to carry forward budget of £87k to fund a specific project in 2019/20. There significant variances within these totals were detailed and explained in Table 3 of the submitted report.

Having received and answered questions by Councillors T Hone and S Jarvis, it was

RESOLVED: That the Finance, Audit and Risk Committee notes the report, to be presented to the Cabinet.

REASON FOR DECISION: To provide an opportunity for the Committee to comment as appropriate on the summary position on revenue, income and expenditure forecasts for the financial year 2018/19, as at the end of the second quarter.