Agenda item

Second Quarter Performance, Finance and Procurement Review 2017/18

Minutes:

The purpose of the report was to inform members of the Council’s overall performance and financial position for the period ended 30th September 2017 (“Second Quarter 2017/18”).  The report was considered by the Corporate Select Committee on 4 December 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 2016/17 was forecast to be underspent by £1,079,710 at the Quarter 2 stage. 

·           The underspend was required to be ring-fenced to support an additional drawdown against reserves in 2018/19 to account for the impact of business rates appeals and reliefs

Efficiency Programme

·           The overall efficiency target of £310,000 for 2017/18 was projected to be achieved at the second quarter stage – with £194,150 achieved to date. However, this was dependent on the progression of key efficiency programmes.

Housing Revenue Account

·            The Housing Revenue Account was forecast to be in surplus by £581,630 - £460,000 of which contributed to ongoing Financial Improvement Plan savings.

Capital Programme

·           The Capital Programme budget for 2017/18 was £6.1m including the carry forward of capital underspends from 2016/17.  The projected outturn was £4.7m which represented an underspend of £1.4m relating to the reprofiling of asset management plan schemes

·           The HRA Capital Programme for 2017/18 was £4.2 million, with spend forecast to be £55,000 underspent against budget at Quarter 2.

Treasury Management

·           Cash investments held at 30th September 2017 totalled £18.2 million.

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

·           The Council’s net interest receipts general fund budget was projected to be underspent by £8,260, with a £39,330 underspend on the HRA

Revenue Collection

·           54.7% of Council Tax was collected by 30th September 2017, compared to 57.5% for the same period last year.

·           58.6% of Business Rates was collected by 30th September 2017 compared with 58.5% for the same period last year (2017/18 distorted by an upfront payment form a large hereditament payer)

·           At the end of Quarter 2 the value of sundry debt over 60 days old was £267,417 which compares to £266,876 at 30th September 2016

 

Procurement

The Procurement headlines for the Second Quarter were:

·         48 procurement activities were completed (3 high value  greater than £172,000 – including HRA boiler replacements and Pavilion Gardens food supplies)

·         The procurement forward plan included 75 procurement activities scheduled for 2017/18 (either HPBC only or joint)

·         At the 30th September 2017, 71% of procurement activity undertaken was on the forward plan and the Council paid 96% of its invoices within 30 days

Performance

The Performance headlines for the Second Quarter were:

·         63% of the key performance indicators were on track

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

·         The Council received 94 complaints, 74 comments and 66 compliments in the Second Quarter. Repeat complaints and response times both on track

 

 

Options considered:

 

Detailed Analysis was contained within the appendices to the report.

 

RESOLVED:

 

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 the covering report be noted.

Supporting documents: