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:
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.
· 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.
· 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.
· 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
· 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
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
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
Detailed analysis was contained within the appendices.
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.