Issue - meetings

REPORT OF THE SERVICE DIRECTOR- RESOURCES

To inform Cabinet of the summary position on revenue income and expenditure forecasts for financial year 2019/20, as at the end of the second quarter.

RESOLVED:

(1)       That the report entitled Second Quarter Monitoring 2019/20 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. These will be incorporated in the draft revenue budget for 2020/21;

(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.

REASONS FOR DECISIONS: 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 – 1 hour 2 minutes 10 seconds

The Executive Member for Finance and IT presented the report entitled Second Quarter Revenue Monitoring 2019/20.

The Chairman drew attention to the referral from the Finance, Audit and Risk Committee meeting held on 5 December 2019 and noted that no additional recommendations to those in the report had been made.

It was moved by Councillor Ian Albert, seconded by Councillor Martin Stears-Handscomb and:

RESOLVED:

(1)       That the report entitled Second Quarter Monitoring 2019/20 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. These will be incorporated in the draft revenue budget for 2020/21;

(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.

REASONS FOR DECISIONS: 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.