Issue - meetings

Members discussed the budget monitoring report for Quarter 3 and noted the overall General Fund position was forecast to break even. There had been some underspending in some areas as well as in-year budget pressures experienced in others, which had been addressed by efficiencies and savings elsewhere in the budget. The Housing Revenue Account was forecast to be overspent by £171,000.

This is because of the surplus of £940,000 not being achieved due to a reduction in dwelling rents received. This was a slight improvement to the report made to a previous Cabinet meeting.

With regards to the Capital Programme, another issue noted by Members was that assuming the Harbour Gate and Bridge project cost £750,000 the General Fund unallocated receipts for Royal Sands was £750,000 (as at 31 December 2017). Cabinet will continue to work with officers to come up with realistic targets as some of the Capital Programme estimates were looking unlikely to be achieved during this financial year.

Councillor Campbell spoke under Council Procedure Rule 20.1.

Councillor Gregory proposed, Councillor Savage seconded and Cabinet agreed the following:

1.  To note the forecast position for 2017-18 for:

(ii)  The General Fund;

(iii)  The Housing Revenue Account;

(iv)  The General Fund and Housing Revenue Account Capital Programmes;

2.  To note the updated General Fund and Housing Revenue Account capital programmes as set out in annexes 1 and 2 to the Cabinet report.