Issue - meetings

Subject

Headline

Finance

The finance headlines for the third quarter were:

Performance against Budget

·           The General Fund budget for 2018/19 was projected to be underspent by £688,600 at the quarter 3 stage 

Efficiency Programme

·           There was a potential shortfall projected against the general fund efficiency target of £581,000 (General Fund) – with £408,250 achieved to date.  Any shortfall was expected to be offset by staff vacancy/corporate savings. The HRA 2018/19 efficiency target of £245,000 had been achieved through the reduction in minimum revenue provision when setting the MTFP.

Housing Revenue Account

·            The Housing Revenue Account was projected to be in surplus (against budget) by £1,024,070

Capital Programme

·           The Capital Programme budget for 2018/19 as revised was £7.88 million.  The outturn was anticipated to be a £3.26 million underspend as a result of re-profiling the Asset Management Plan.

·           The HRA Capital Programme for 2018/19 as revised was £4.07 million.  The outturn was anticipated to be a £0.68 million underspend.

Treasury Management

·           Cash investments held at 31st December 2018 totalled £22.9 million.

·           Council borrowing at 31st December 2018 totalled £66.8 million.

·           The Council’s net interest receipts general fund budget was marginally overachieved by £16,990 with a £32,360 surplus on the HRA

Revenue Collection

·           84.9% of Council Tax was collected by 31st December 2018, compared to 85.2% for the same period last year.

·           83.2% of Business Rates was collected by 31st December 2018 compared with 81.9% for the same period last year (due to payment in full received on one account in 2018/19)

Procurement

The procurement headlines for the third quarter were:

·         18 procurement activities were completed

·         At the 31st December 2018, 62% of procurement activity undertaken was on the forward plan and the Council paid 96% of its invoices within 30 days

Performance

The performance headlines for the third quarter were:

·        Performance in respect of 70% of the key performance indicators were on track

·         Of the 22 Priority Actions within the Corporate Plan, two were completed, two were awaiting a decision, and the remainder were classified as ‘Green’; and

·         The Council received 167 complaints, 214 comments and 121 compliments in the Second Quarter. Repeat complaints and response times both on track