Hounslow Council


Decision details

CEX 136 - Monthly Financial Monitoring Report

Decision Maker: Cabinet

Decision status: For Determination

Is Key decision?: No

Is subject to call in?: No

Decision:

Members considered an addendum report with a revised version of the published report as appendix A of the published report was not complete.

 

Resolved:

 

That Cabinet agreed the recommendations of the report as follows:

 

1.     Cabinet members noted the following:

 

 

a)    Revenue Outturn Position;

·       A net overspend of £10.4m is currently projected on General Fund budgets. Successful delivery of mitigation activity will reduce this to an overspend of £9.3m. Potential reserve drawdowns for specific purposes would reduce this further to an overspend of £7.5m.

·       Projected funding shortfall for Dedicated Schools Grant (DSG) is £2.2m (paragraph 4.2 of the report) which will need to be covered by the DSG reserve;

·       Projected overspend of £0.9m on the Housing Revenue Account (paragraph 4.3 of the report);

·       4.56% of 2016/17 approved revenue savings are currently delayed and 19.15% are currently at risk of not being achieved in the current financial year (paragraph 4.5 of the report).

 

b)    Summary of bad debts totalling £1.2m awaiting approval to be written off (paragraph 5.1 of the report).

c)     An update on the Council’s performance against the key corporate financial indicators (paragraph 7.1 of the report).

d)    The Council’s Efficiency Plan for the period 2016/17 to 2019/20 (paragraph 6.1 of the report);

e)    A review of overspending general fund and DSG areas to be presented to the next Cabinet (paragraph 4.4 of the report).

 

2.     Cabinet members approved the following:

 

2.1  An allocation of £140,000 of reserves from the Feasibility Fund available for drawdown on request to support feasibility work to rationalise depot sites.

2.2  An allocation of £20,000 of reserves from the Feasibility Fund to complete Energy Performance Certificate (EPC) surveys and investigate and carry out work required to meet new legislative requirements.

Publication date: 17/11/2016

Date of decision: 15/11/2016

Decided at meeting: 15/11/2016 - Cabinet

Accompanying Documents: