Agenda item

Finance

The finance headlines for the first quarter were:

Performance against Budget

·           The General Fund budget for 2016/17 was forecast to be underspent by £378,700 at the Quarter 1 stage.

Efficiency Programme

·           The overall efficiency target of £310,000 for 2017/18 was projected to be achieved at the First Quarter stage.  However, this was dependent on the progression of key efficiency programmes.  Any shortfall could be partially funded using the £100,000 earmarked reserve established to meet some of the one-off/short-term costs incurred in implementing the programme.

Housing Revenue Account

·            The Housing Revenue Account was forecast to be in surplus by £218,470 at the Quarter 1 stage.

Capital Programme

·           The Capital Programme budget for 2017/18 was £6.12m and was forecast to be on target at this early stage.  However, this was dependent on the progress of a number of schemes.

·           The HRA Capital Programme for 2017/18 was £4.15 million, with spend forecast to be on target at quarter 1 stage.

Treasury Management

·           Cash investments held at 30th June 2017 totalled £14.9 million.

·           Council borrowing at 30th June 2017 totalled £72.2 million.

·           The Council’s net interest receipts general fund budget was projected to be underspent by £155,000, with a £160,000 overspend on the HRA due to a change in the split of interest payable based on the ‘one pool ‘ approach to borrowing

Revenue Collection

·           29.6% of Council Tax was collected by 30th June 2017, compared to 30.0% for the same period last year.

·           30.3% of Business Rates was collected by 30th June 2017 compared with 28.0% for the same period last year (2017/18 distorted by an upfront payment form a large ratepayer)

·           At the end of quarter one the value of sundry debt over 60 days old was £263,936 which compared to £256,375 at 30th June 2016

Procurement

The procurement headlines for the first quarter were:

·         37 procurement activities were completed (4 high value >£172k – including HRA kitchen refurbishments & roofing works and Buxton Opera House repairs)

·         The procurement forward plan included 54 procurement activities scheduled for 2017/18 (either HPBC only or joint)

·         At 30th June 2017, 65% of procurement activity undertaken was on the forward plan and the Council paid 94% of its invoices within 30 days

Performance

The Performance headlines for the First Quarter were:

·         72% of the key performance indicators were on track

·         Of the 19 Priority Actions within the Corporate Plan, one was rated ‘amber’, the remainder being classified as ‘green’; and

·         The Council received 82 complaints, 108 comments and 41 compliments in the First Quarter. Repeat complaints and response times were both on track