Minutes:
The purpose of the report was to inform members of the Council’s overall performance and financial position for the period ended 30th June 2017 (“first quarter 2017/18”). The report was considered by the Corporate Select Committee on 24 July 2017. The position was summarised as follows:
Subject |
Headline |
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
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Options considered:
Detailed analysis was contained within the appendices.
RESOLVED:
That the first quarter 2017/18 financial, procurement and performance position as detailed in Appendices A, B and C and summarised at 3.3 of the covering report be noted.
Supporting documents: