Issue - meetings

To receive and consider report 51/08 of the Joint Head of Finance, Ridgeway Shared Service Partnership. 

Introduction and Report Summary

The report details, in accordance with the corporate planning framework the outturn position for 2007/08, subject to audit.  The report is submitted to the Executive in accordance with its service delivery and budget management roles.  The report will also be submitted to the Scrutiny Committee to assist it to review Council performance.

The Contact Officer for this report is Alice Brander, Chief Accountant, (01235 520202 Ext 429).

Recommendations

The Executive is requested to:

(a)               Note the overall outturn position of the Council as well as the outturn of individual services areas and cost centres:  and

(b)               Take into account the impact of the outturn position in the integrated service and financial planning process when setting the 2009/10 original budget.

(Time: 3.08pm to 3.24pm)

The Executive received and considered report 51/08 of the Head of Finance, which detailed the Council’s financial outturn position for 2007/08, subject to audit. 

It was noted that the appendices to the report set out the normal Service Area cost centres that comprised the Council’s Revenue Account.  They did not include corporate revenue items such as property income and investment income.  Therefore the appendices did not reflect the complete ‘bottom line’ revenue outturn position.  The overall projected outturn showed a net under-spend of £1,110k from budgets as set in the Council’s approved budget from February 2007.  The reasons for the variations were set out in the report.  The Executive noted these.  The service budget under-spend of £202k represented 0.5% of the gross budget of £43m. 

The original estimate for capital expenditure for the year was £4.29m.  This compared with the capital expenditure for the year which totalled £3.485m, representing 81% of the original estimate.   This was due to many of the projects extending over more than one year. 

The Executive noted the financial outturn position but asked that a more detailed explanation of the correlation between the tables in the report was given to Executive and Scrutiny Committee Members outside of the meeting. 

Members welcomed the introduction of Appendix B which showed explanations of budget variations for each service.  In answer to a question from a Member, the Strategic Director agreed to investigate the reasons for the budget variation for the Reprographics service. 

RESOLVED

(a)               that the overall outturn position of the Council as well as the outturn of individual services areas and cost centres for 2007/08 be noted; and

(b)               that the impact of the outturn position in the integrated service and financial planning process when setting the 2009/10 original budget be taken into account.