Issue - meetings

Q2 Budget Monitoring

Meeting: 13/12/2018 - Cabinet (Item 544)

544 Q2 Budget Monitoring Report 2018-19 pdf icon PDF 95 KB

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Cabinet was advised that the General Fund projected an overspend of £680k compared to £750k at Quarter 1. The reasons for the variations were outlined in Section 2 of the Cabinet report. The services projecting an overspend were striving to minimise or eliminate the overspend before the end of the year.


Housing Revenue Account was currently forecast to have a deficit of £107k in 2018-19. This represented a £185k decrease against the planned deficit of £292k.


The latest projection for the General Fund Capital Programme was that spend in 2018-19 would reduce by £3.8m and the revised Capital Programme of £13.5m was all planned to be spent without significant variation.


With regards to the HRA Capital Programme, of the £20.9m of budget allocated to HRA capital schemes, it was currently anticipated that £13.5m would be unspent at year end. This was mainly due to re-profiling of Thanet’s schemes.


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


1.  To note the 2018-19 Quarter 2 forecast position for:


(i)  The General Fund;

(ii)  The Housing Revenue Account;

(iii)  The General Fund and Housing Revenue Account Capital Programmes.


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