Agenda item

Fourth Quarter (Provisional Outturn) Financial, Procurement & Performance Review 2018/19

Minutes:

The purpose of the report was to inform members of the Council’s overall performance and financial position for the period ended 31st March (“Fourth Quarter 2018/19”). The report was considered by the Corporate Select Committee on 22 July 2019. The position was summarised as follows:

 

Subject

Headline

Finance

The headlines for the fourth quarter were:

Performance against Budget

  • At the Quarter Four stage the General Fund provisional outturn for 2018/19 was an underspend of £1,381,989.

Efficiency Programme

  • The overall general fund efficiency target was of £581,000 for 2018/19.  A small shortfall of £56,743 had been carried forward to be achieved in 2019/20. The HRA 2018/19 efficiency target of £245,000 had been achieved through the reduction in minimum revenue provision when setting the MTFP.

Housing Revenue Account

  • The Housing Revenue Account was in surplus (against budget) by £1,409,779

Capital Programme

  • The General Fund Capital Programme budget for 2018/19 as revised in February 2019 was £4.62 million.  The outturn was £3.99 million which represented an underspend of £0.63 million, half of which related to revised vehicle procurement scheduling.
  • The HRA Capital Programme for 2018/19 as revised in February 2019 was £4.07 million.  The outturn was £3.38 million which represented a £0.69 million underspend.

Treasury Management

  • Cash investments held at 31st March 2019 totalled £14.4 million.
  • Council borrowing at 31st March 2019 totalled £66.8 million.
  • The Council’s net interest general fund budget was marginally underspent by £57,298 with a £34,660 surplus on the HRA

Revenue Collection

  • 98.43% of council tax was collected by 31st March 2019, compared to 98.35% for the same period last year.
  • 99.09% of Business Rates was collected by 31st March 2019 compared with 98.74% for the same period last year.
  • At the end of Quarter 4 the value of sundry debt over 60 days old was £184,465 which compared to £182,066 at 31st March 2018

 

Procurement

The headlines for the fourth quarter were:

  • 22 procurement activities were completed
  • At the 31st March 2019, 64% of procurement activity undertaken was on the forward plan and the Council paid 95% of its invoices within 30 days

 

Performance

The headlines for the fourth quarter were:

  • 61% of the key performance indicators met target, with 45% better than target

·         Of the 22 Priority Actions within the Corporate Plan, seven were completed, one was awaiting a decision, and the remainder were classified as ‘Green’; and

·         The Council received 223 complaints, 294 comments and 167 compliments in the Fourth Quarter. Repeat complaints and response times were both on track

 

 

Options considered:

 

Detailed analysis was contained within the appendices.

 

RESOLVED:

 

1.    That the Fourth Quarter 2018/19 financial, procurement and performance position detailed in Appendices A, B and C and summarised at 3.3 of the covering report be noted.

 

2.    That the allocation of the surplus on the General Fund Revenue Account to reserves as explained in Appendix A (paragraph 2.10) of the report be approved.

 

3.    That the carry forward unspent revenue budget as described in Appendix A (Paragraph 2.13) of the report be approved.

 

4.    That the carry forward unspent capital budget as set out in Appendix A (Paragraph 7.6 and 8.4) of the report be approved.

 

Supporting documents: