Agenda item

Second Quarter Performance, Finance and Procurement Review

Minutes:

The purpose of this report was to inform members of the Council’s overall performance and financial position for the period ended 30 September 2017 (“Second Quarter 2017/18”).  The report was considered by the Resources Overview and Scrutiny Panel on 29 November 2017.  The position was summarised as follows:

 

Subject

Headline

Finance

The Finance headlines for the Second Quarter were:

 

Performance against Budget

·         The General Fund budget for 2017/18 was forecast to be £309,420 underspent at the Quarter 2 stage.

·         This underspend would need to be retained in order to meet a predicted deficit on the Business Rates Collection Fund due to the receipt of Section 31 grant to compensate for losses in businesses rates income due to additional reliefs granted by central government.

 

Efficiency Programme

·         The overall efficiency target of £661,000 for 2017/18 was projected to be achieved – with £335,490 achieved to date. However, this was dependent on the progression of key efficiency projects.

 

Capital Programme

·         The Capital Programme budget for 2017/18 was £3.37m.  This included the carry forward of capital underspends from 2016/17. The projected outturn was £1.7m which represented an underspend of £1.67m relating to Disabled Facilities Grants, Asset Management Plan and the Growth Fund.

 

Treasury Management

·         Cash investments held at 30th September 2017 totalled £7.4m. The Ascent loan and debenture stood at £19m.

·         Council borrowing at 30th September 2017 totalled £13.2m (£12 m of which relates to the Ascent loan)

·         The Council’s net interest receipts budget was projected to show a surplus of £16,000 at Quarter 2 stage.

 

Revenue Collection

·         56.7% of Council Tax was collected by 30th September 2017, compared to 56.9% for the same period last year.

·         57.0% of Business Rates was collected by 30th September 2017 compared with 57.4% for the same period last year.

·         At the end of Quarter Two the value of sundry debt that was over 60 days old was £103,240 which compares with £284,780 at 30th September 2016

·         There were a number of balances that were recommended for write off as they were deemed to be non-recoverable. These were detailed in the schedule attached at Appendix D to the report.

Procurement

The Procurement headlines for the Second Quarter were:

 

·           25 procurement activities were completed

·           The procurement forward plan included 51 procurement activities for 2017/18 (either SMDC only or joint with HPBC)

·           At the 30th September 2017, 71% of procurement activity undertaken was on the forward plan and the Council paid 95% of its invoices within 30 days during the year.

Performance

The Performance headlines for the Second Quarter were:

 

·           Performance was on track for 78% of the key performance indicators

·           Of the 24 Priority Actions within the Corporate Plan, three were still to commence, 2 were complete, the remainder being classified as ‘Green’; and

·           The Council received 55 complaints, 80 comments and 23 compliments in the First Quarter. Repeat complaints and response times were both on track

 

 

Options considered:

 

Detailed Analysis is contained within the appendices

 

DECISION:          1.         That the Second Quarter 2017/18 financial, procurement and performance position detailed in Appendices A, B and C and summarised at 3.3 of this covering report be noted.

 

2.         That the write-off of debts as set out in Appendix D of the report be approved.

 

Supporting documents: