Issue - meetings

REPORT OF THE SERVICE DIRECTOR – RESOURCES

To consider the First Quarter Revenue Budget Monitoring report 2020/21.

RESOLVED:

(1)       That the report entitled First Quarter Revenue Monitoring 2020/21 be noted;

(2)       That the changes to the 2020/21 General Fund budget, as identified in table 3 and paragraph 8.2, a £1.468million increase in net expenditure be approved;

(3)       That the changes to the 2021/22 General Fund budget, as identified in table 3 and paragraph 8.2, a total £186k increase in net expenditure be noted. These will be incorporated in the draft revenue budget for 2021/22;

(4)       That the write-off of debtor invoices totalling £17,442.64 raised to Hitchin Markets Limited, as explained in paragraphs 8.3 and 8.4 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 – 22 minutes 42 seconds

The Executive Member for Finance and IT presented the report entitled First Quarter Revenue Monitoring 2020/21.

Councillor Kate Aspinwall, Chair of Finance, Audit and Risk Committee presented the referral from the meeting of that committee held on 7 September 2020 regarding First Quarter Revenue Monitoring 2020/21 the recommendations to Cabinet being;

(1)     That the report entitled First Quarter Revenue Monitoring 2020/21 be noted;

(2)     That the changes to the 2020/21 General Fund budget, as identified in table 3 and paragraph 8.2, a £1.468million increase in net expenditure, be approved;

(3)     That the changes to the 2021/22 General Fund budget, as identified in table 3 and paragraph 8.2, a total £186k increase in net expenditure, be noted. These will be incorporated in the draft revenue budget for 2021/22;

(4)     That the write-off of debtor invoices totalling £17,442.64 raised to Hitchin Markets Limited, as explained in paragraphs 8.3 and 8.4, be approved.

RESOLVED:

(1)       That the report entitled First Quarter Revenue Monitoring 2020/21 be noted;

(2)       That the changes to the 2020/21 General Fund budget, as identified in table 3 and paragraph 8.2, a £1.468million increase in net expenditure be approved;

(3)       That the changes to the 2021/22 General Fund budget, as identified in table 3 and paragraph 8.2, a total £186k increase in net expenditure be noted. These will be incorporated in the draft revenue budget for 2021/22;

(4)       That the write-off of debtor invoices totalling £17,442.64 raised to Hitchin Markets Limited, as explained in paragraphs 8.3 and 8.4 be approved.

REASON 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.