Agenda item

Budget Monitoring Report 2019/20 - Period 6

Summary:

 

 

 

Options considered:

This report summarises the budget monitoring position for the revenue account and capital programme to the end of September 2019.

 

Not applicable.

 

Conclusions:

 

The overall position at the end of September 2019 shows an £710,908 underspend for the current financial year on the revenue account, this is currently expected to deliver a full year overspend of £41,115.

 

Recommendations:

 

 

 

 

 

 

 

 

 

 

 

 

 

Reasons for

Recommendations:

It is recommended that:

 

1)    Cabinet note the contents of the report and the current budget monitoring position;

2)    Cabinet agree to the release of £68,000 from the Asset Management Reserve to fund the Asset Valuation Programme;

3)    Cabinet approve the Capital project funding in section 6.2 or recommend approval to Full Council where appropriate

 

 

To update Members on the current budget monitoring position for the Council.

 

 

LIST OF BACKGROUND PAPERS AS REQUIRED BY LAW

(Papers relied on the write the report and which do not contain exempt information)

 

System budget monitoring reports

 

 

Cabinet Member(s)

Cllr Eric Seward

 

Ward(s) affected

 

Contact Officer, telephone number and email:

Duncan Ellis,

01263 516330,

Duncan.ellis@north-norfolk.gov.uk

 

Decision:

 

RESOLVED to:

 

1)    note the contents of the report and the current budget monitoring position;

2)    agree to the release of £68,000 from the Asset Management Reserve to fund the Asset Valuation Programme;

3)    To agree and recommend to Full Council the increases to the capital programme budgets for the schemes identified within paragraph 6.2 of the report. The funding for the first five schemes is to be financed from capital receipts, the £4.5m for the waste vehicles is currently anticipated to come from borrowing, the estimated average annual impact of the borrowing is estimated to be in the region of £600k per annum and will be taken account of as part of the waste contract award and the 2020/21 budget process.

 

Reasons for the decision:

 

To update Members on the current budget monitoring position for the Council.

Supporting documents: