Agenda item

4th Quarter Financial, Procurement & Performance Review

Minutes:

Keith Pointon – Interim Head of Finance – informed members of the Council’s overall financial, procurement and performance position for the period ending 31 March 2020 (“Fourth Quarter 2019/20).

 

The position was summarised as follows:-

 

Subject

Headline

Reference

Finance

Headlines for the Fourth Quarter were:

Performance against Budget

·         At the Fourth Quarter stage  the General Fund provisional outturn for 2019/20 was an underspend of £1,322,792.

Efficiency Programme

·         The 2019/20 general fund efficiency target of £842,000 had been exceeded with £1,025,000 of savings achieved.

Capital Programme

·         The revised Capital Programme budget for 2019/20 was £3.3m. The outturn for the year was £2.7m; a variance of £0.607m – mostly in respect of underspend of Disabled Facilities Grant works.

Treasury Management

·         Cash investments held at 31 March 2020 totalled £9.7m. The Ascent loan and debenture currently stood at £14m;

·         Council borrowing at 31 March 2020 totalled £10m (related to the Ascent loan);

·         The Council’s net interest income receipts were £73,110 surplus above budget.

Revenue Collection

·         98.55% of Council Tax was collected by 31 March 2020 compared to 98.66% for the same period last year;

·         99.30% of Business Rates was collected by 31 March 2020 compared with 99.13% for the same period last year;

·         At the end of the Fourth Quarter debt that was over 60 days old was £70,729 which compared with £70,434 at 31 March 2019.

Appendix A

Procurement

The Procurement headlines for the Fourth Quarter were:

·         11 procurement activities were completed;

·         The procurement forward plan included 56 procurement activities for completion in 2020/21 (either SMDC only or joint);

·         At 31 March 2020, 67% of procurement activity undertaken was on the forward plan and the Council paid 97% of its invoices within 30 days during the year.

Appendix B

Performance

The Performance headlines for the Fourth Quarter were:

·         67% of the key performance indicators met target (43% of which were better than the previous year);

·         The Council received 63 complaints and 65 compliments in the Fourth Quarter;

·         12 projects on track, 1 completed,1 red rated and 6 grey.

Appendix C

 

Clarification was given regarding the Local Business Concordat, which featured as part of the updated Procurement Strategy. A discussion paper was to be published and it was hoped to encourage more local businesses to tender for works. The intention was to partially adopt the ‘Preston model’ in the process and member comments were invited. There was to be a section to include other local organisations.

 

A review of the Parking Strategy was also under way and requests for additional ‘Blue Badge’ spaces would be incorporated.

 

DECIDED – That the Panel:

·         NOTED the Fourth Quarter 2019/20 financial, procurement and performance position detailed in Appendices A, B and C and summarised at 3.3 of the covering report;

·         RECOMMENDED for approval the allocation of the surplus on the General Fund Revenue Account to reserves as explained in Appendix A (paragraph 2.10);

·         RECOMMENDED for approval the proposal to carry forward unspent revenue budget as described in Appendix A (paragraph 2.12); and

·         RECOMMENDED for approval the proposals to carry forward unspent budget as set out in Appendix A (paragraph 5.6).

Supporting documents: