Agenda item

General Fund Revenue and Capital Outturn 2017/18 and Medium Term Financial Plan 2019/20: Update

Minutes:

The Executive Member for Finance and Support Services submitted a report on the General Fund Revenue Outturn for 2017/18 and the Medium Term Financial Plan 2019/20 update.  The report also provided a summary of financing arrangements for the 2017/18 Capital Outturn and the updated 2018/19 capital budget and approved slippage for 2017/18.  The Head of Strategic Finance and Property provided a summary of the report and was happy to report that the budget was underspent by £7k as a result of fluctuations between services.

 

The report was debated at length when Members sought and were provided with clarification on a number of issues:

 

·        the depressed rental income on Charrington’s House, and the fact that Officers had secured more tenants which would impact positively on the Balance Sheet;

 

·        PCN income and a request that the Head of Operations write to Members regarding the number of successful appeals

 

·        an overspend in the Democratic Services salaries budget;

 

·     the underspend achieved of £223k within Housing and Health and within a year and the possibility of a service review;

·        assurances that the first quarter health check in September would provide greater levels of details in terms of the Council’s capital and revenue position;

 

·        the sum of £633k towards demolition costs for the Causeway building and how these would be funded. The Head of Strategic Finance and Property advised that this was a reserve fund held for this type of expenditure.

 

·        the overspend of £33k, recruitment difficulties and the need to keep this under review;

 

·        Legal and General’s ownership of Jackson Square in Bishop’s Stortford and the Council’s management role;

 

·        the capital budget overspend of £600k in respect of the Causeway building.

 

·        the slippage figure in relation to the Fire Suppression unit at Buntingford Depot which remained unchanged and was not split between the two authorities;

 

·        the overspend of £297k against the Business and Technology Service budget, whether this was a one off because of under investment in previous years and was this related to cyber security?  The Head of Strategic Finance and Property undertook to provide a breakdown to Members.

 

·        an underspend in terms of £51k in relation to interest and investment income;

 

·        the Council’s receipt of  £325k funding.

 

The Committee Chairman sought and was provided with assurance that the Council’s level of reserves was now at an appropriate level and there was resilience in their usage.

 

Councillor J Wyllie reminded Members that it was the Council who refunded their parking fees when shopping at Sainsburys.  Members supported the suggestion that the public be made aware that it was not Sainsburys who gave shoppers back their parking fees but East Herts Council made possible by the residents of East Hertfordshire. 

 

It was moved by Councillor J Wyllie and seconded by Councillor A Alder that the recommendations, as detailed be supported.  After being put to the meeting and a vote taken, the recommendations were declared CARRIED.

 

RESOLVED – that the Executive be advised that (A) the General Fund revenue outturn of £8k underspend be transferred to the General reserve; and

 

(B)        the capital budgets of £1.496M be re-profiled from 2017/18 capital programme to 2018/19 programme to fund ongoing capital schemes.

 

Supporting documents: