Issue - meetings

Revenue and Capital Budget Monitoring Period 9 2018/2019

 

 

Meeting: 05/02/2019 - Cabinet (Item 19)

19 Revenue and Capital Budget Monitoring Period 9 2018/2019

Report by Corporate Director Alistair Cunningham.

 

Supporting documents:

Minutes:

Cllr Philip Whitehead presented the report which provided an update on the revenue and capital budget monitoring positions as at the end of Period 9 (end of December 2018) for the financial year 2018/19.

 

Cllr Whitehead reported that, (i) forecasts indicated a general fund variance of £1.158m, being 0.4% of the Council’s net budget and it was an improvement on the period 7 variance of £2.064m; (ii) a high-level of service expenditure is in line with budget profiles and forecasts; (iii) the Dedicated Schools Grant is coming under increased pressure in Wiltshire as it is across the country, with a current forecast for a £2.307m overspend; and (iv) changes to the capital budget made since the 2018/19 budget was set reflected the forecast year end position of the 2018/19 capital spend against budget as at Period 9.

 

 

Resolved:

 

1.    To note the outcome of the period 9 (end of December) budget monitoring.

 

2.    To reinforce the need for expenditure to be contained within the budget agreed in February 2018.

 

3.    To note the budget movements undertaken to the capital programme shown in appendices E and F of the report and to also note the reprogramming of £5.227m capital budget between 2018/19 and 2019/20.

 

Reason for Decision:

 

1.     To inform effective decision making and ensure a sound financial control environment.

 

2.     To inform Cabinet of the position of the 2018/19 capital programme as at Period 9 (31 December 2018), including highlighting any budget changes.