Financial Position December 2019 - Report for the Year Ending 31st March 2020
Councillor Joyce Plummer, Portfolio Holder for Resources, provided a reportinforming Cabinet of the financial spending of the Council up to the end of December 2019 and the financial forecast outturn position for the Accounting Year 2019/20. Members considered a table within the report which set out the core financial details.
Approval of the report was not a key decision.
Reason for Decision
The spend for the first 9 months of the financial year to the end of December 2019 is £8,756,000 compared to a Budget of £8,887,000 giving a positive variance of £131,000 over the first 9 months of the year.
The current forecast spend to the end of the financial year in March 2020 is £10,776,000 compared to a Budget of £10,994,000. This forecast produces a positive variance of £218,000 by the end of the financial year. There are small adverse forecasts for Planning and Transportation, and Environmental Services. Regeneration and Property Services have a larger adverse variance of 16% of Budget. Elsewhere positive variances are sufficient to produce an overall surplus for the year.
Environmental Services are predicting a year end adverse variance of £21,000. This stems from salary savings of £24,000 and £1,000 of other savings on Food Safety. Waste Services’ income is up £48,000, along with £22,000 of salary savings and £103,000 positive variance on recycling, less £50,000 of additional miscellaneous expenditure for an overall £123,000 surplus on their budget. Parks and Cemeteries are predicting a positive variance of £31,000 with the Parks Service indicating savings of £19,000 on salaries and £5,000 on miscellaneous costs offset by £36,000 of reduced income. Cemeteries are predicting an additional £36,000 income this year and salary savings of £8,000 less £1,000 of additional extra miscellaneous spend. The Town Centre and Market Hall Budget is indicating an overall adverse variance of £200,000, comprising £190,000 reduced income at the Market Hall and income from CCTV down by £10,000, less £27,000 of salary savings reduced by £27,000 of additional expenditure.
Culture and Leisure Services
Culture and Leisure Services are indicating a positive variance of £24,000 due to £30,000 of savings on leisure budgets less £6,000 additional net expenditure at the Haworth Art Gallery.
Planning and Transportation
Planning and Transportation are predicting an adverse variance for the year of £32,000. This is due to a predicted shortfall in income compared to budget on Building Control of £65,000 and additional salary expenditure in this area of £26,000. Elsewhere on the Budget there are £27,000 of staff savings and £46,000 of additional income less £14,000 of miscellaneous additional expenditure.
Regeneration and Property Services
Regeneration and Property Services are predicting an adverse variance of £169,000 at year-end with salary costs up by £74,000 over the year compared to budget and expected additional costs of £138,000, less £43,000 of additional income.
Policy and Corporate Governance
Policy and Corporate Governance are predicting a positive variance of £21,000. This stems from salary savings of £281,000 less the Corporate Savings Target for the year of £165,000, predicted increases of £100,000 on Housing Benefit Costs, along with £82,000 of additional miscellaneous costs less £87,000 of additional income.
Non Service Items
The current estimate for the year is a positive variance of £395,000.
There were no alternative options for consideration or reasons for rejection.
Resolved - That the Cabinet notes the report and asks the Corporate Management Team to continue to reduce costs and increase income over the remaining months of the financial year.