Issue - meetings

REPORT OF THE SERVICE DIRECTOR - RESOURCES

To consider the Second Quarter Revenue Monitoring report 2019/20.

RECOMMENDED TO CABINET:

(1)       That the report be noted;

(2)       That the changes to the 2019/20 General Fund budget, as identified in table 3 and paragraph 8.2, a £360k decrease in net expenditure, be approved;

(3)       That the changes to the 2020/21 General Fund budget, as identified in table 3 and paragraph 8.2, a £188k increase in net expenditure, be noted; and

(4)       That the write-off of the debtor invoice of £130,566.75 raised to CoinCo International PLC in January 2015, as explained in paragraph 8.3, be approved.

REASON FOR RECOMMENDATIONS: Members are able to monitor, make adjustments within the overall budgetary framework and request appropriate action of Services who do not meet the budget targets set as part of the Corporate Business Planning process.

Audio Recording – 52 Seconds 12 Seconds

The Accountancy Manager presented the report entitled Second Quarter Revenue Monitoring 2019/20 and drew attention to the following:

·                The 2019/20 General Fund budget, as identified in table 3 and paragraph 8.2, a £360k decrease in net expenditure;

·                Items within Table 3 – Summary of Significant Variances at paragraph 8.1;

·                Paragraph 8.3 which detailed that Coinco International Plc (CCI), had entered into administration while owing North Hertfordshire District Council £130k. Cabinet was being asked to approve this write off;

·                Paragraph 8.4 detailed that it was expected that efficiencies totalling £610k, that had been agreed by Council in February 2019, would be delivered;

·                Paragraph 8.5 detailed that £74k of the budget carried forward from 2018/19  was not expected to be spent In the current financial year. This related to parking lines and signs maintenance and Herts Warmer Homes Project;

·                Table 4 listed the Corporate Financial Health Indicators the Planning Application Fees were now at Amber status and;

·                Items within Table 5 – General Fund impact at paragraph 8.13.

RECOMMENDED TO CABINET:

(1)       That the report be noted;

(2)     That the changes to the 2019/20 General Fund budget, as identified in table 3 and

          paragraph 8.2, a £360k decrease in net expenditure, be approved;

(3)     That the changes to the 2020/21 General Fund budget, as identified in table 3 and

paragraph 8.2, a £188k increase in net expenditure, be noted; and

(4)     That the write-off of the debtor invoice of £130,566.75 raised to CoinCo International

PLC in January 2015, as explained in paragraph 8.3, be approved.

REASON FOR RECOMMENDATIONS: Members are able to monitor, make adjustments

within the overall budgetary framework and request appropriate action of Services who do not meet the budget targets set as part of the Corporate Business Planning process.