Issue - meetings

REPORT OF THE SERVICE DIRECTOR – RESOURCES

To consider the summary position on General Fund income and expenditure as at the end of the financial year 2018/19.

RESOLVED:

That the Revenue Budget Outturn 2018/19 be noted.

REASON FOR DECISION:  To provide an opportunity for the Committee to comment as appropriate on the Revenue Budget Outturn 2018/19.

Audio Recording – Start of Item – 40 Minutes, 58 Seconds

The Services Director – Resources presented the report and explained the Revenue Budget Outtrun 2018/19.

The report provided was for the year that ended 31 March 2019.  A requirement under Financial Regulations to report to both the Finance, Audit & Risk Committee and Cabinet on any variances of expenditure that exceeded £25,0000 against the working Budget.  Quarterly reports were provided.  The Service Director – Resources informed that relevant variances of under £25,000 would also be reported to the Finance, Audit and Risk Committee.

The Service Director – Resources advised that, at year end, there had been an underspend against the working budget of £555k, explaining that this was mainly due to projects which had not been completed during the year so there was a carry forward of £474,000 of underspends.

The Service Director – Resources referred to Table 3 in the report, which summarised the significant variances between spend and budget.  He also drew attention to paragraph 3.15 within the report looking at variances of funding.

In 2018/19, the Council was a member of the Hertfordshire Business Rates Pool.  As forecast, there had been an increase in Business rates, with the Council benefitting from a pooling gain of £368k retained in a specific reserve.  This amount had the potential to be used in the future for more general purposes.  The Service Director- Resources drew the Member’s attention to Table 8 in the report highlighting Earmarked Reserves.

In answer to questions from Councillors Sam Collins, Sam North and Kay Tart, The Service Director – Resources responded as follows:

The variance reported on Waste Services – Income from Paper, was more to do with the fact that there was generally less paper to recycle, the public were not buying as many newspapers and less printed media, rather than the non-collection of re-cycling waste.  Other local authorities were showing the same decline.

Brexit Preparations

Out of the Central Government Funding £17,500 received 2017/18, a sensible amount of money had been spent.  Officer work continued to look into the implications of Brexit, but this did not involve spending money externally, which allowed expenditure as and when funds would be required.  The responsibility for Brexit had been taken on by the Service Director for Legal and Community.

No detailed costing systems were in place in respect of Internal resources used for Brexit preparation.  Protection for staff - given that Brexit is a Category 9 -  Assurance was given that the Head of Paid Services would always keep under review any need for extra resource required.

If Brexit does not happen the grant funding received would be kept. 

RESOLVED:

(1)       To review the Risk Matrix at the next Finance, Audit and Risk Committee Meeting

(2)       That the Revenue Budget Outturn 2018/19 be noted.

REASON FOR DECISION:  To provide an opportunity for the Committee to comment as appropriate on the Revenue Budget Outturn 2018/19.