Decision details

To consider the report of the Cabinet Member for Resources detailing the revenue and capital monitoring position for the period to the end of December 2019.

General Revenue Fund

It is recommended that Cabinet:

  i)  Note the forecast outturn position is a balanced position overall, as outlined in paragraph 4 and in paragraph 1 of appendix 1. 

  ii)  Note the performance of treasury management, and financial outlook in paragraphs 6 to 9 of appendix 1.

  iii)  Note the Key Financial Risk Register as detailed in paragraph 12 of appendix 1.

  iv)  Note the performance against the financial health indicators detailed in paragraphs 15 and 16 of appendix 1.

  v)  Note the performance outlined in the Collection Fund Statement detailed in paragraphs 19 to 20 of appendix 1.

Housing Revenue Account

It is recommended that Cabinet:

vi)  Note the forecast outturn position is an underspend of £1.89M as outlined in paragraph 5 and paragraphs 17 and 18 of appendix 1.

Capital Programme

It is recommended that Cabinet:

vii)  Notes the revised General Fund Capital Programme, which totals £394.51M as detailed in paragraph 2, tables 2 and 6, and the associated use of resources in table 7 of Appendix 2.

viii)  Notes the revised HRA Capital Programme, which totals £178.26M as detailed in paragraph 2, tables 2 and 6 and the associated use of resources in table 7 of Appendix 2.

ix)  Notes that the overall forecast position for 2019/20 at quarter 3 is £134.96M, resulting in a potential underspend of £0.48M, as detailed in table 4 of Appendix 2.

x)  Notes that the capital programme remains fully funded up to 2023/24 based on the latest forecast of available resources although the forecast can be subject to change; most notably with regard to the value and timing of anticipated capital receipts and the use of prudent assumptions of future government grants to be received.

xi)  Approves slippage and rephasing as detailed in paragraph 6 & 7 of Appendix 2. Noting that the movement has zero net movement over the 5 year programme.

xii)  Notes forecast slippage of £180.00M within the Resources portfolio to be approved as part of outturn in July 2020, reflecting the anticipated phasing of the continuation of the property investment fund which the council agreed in November 2019 and included in the capital programme for 2019/20, with £200M added to the capital programme for this purpose.

To ensure that Cabinet fulfils its responsibilities for the overall financial management of the Council’s resources. 

Not applicable.