Issue - meetings
TEST
Meeting: 27/07/2016 - Cabinet (Item 4a)
4a Revenue and Capital Monitoring 2016/17 - Period 1 Outturn Forecast Statement 
PDF 703 KB
Ward: All
Purpose: The purpose of this report is to provide Members with information on the forecast revenue outturn position of the Authority at the end of period 1 which represents month 2 financial information for the 2016/17 financial year. Revenue and Capital forecasting is being brought forward by a month against the usual timescale to provide members with relevant financial information before summer recess.
Author: Mark Howcroft – Assistant Head of Finance
Contact Details: markhowcroft@monmouthshire.gov.uk
Additional documents:
- Appendix 1 Mandated Savings Report Month 2 MAY 2016-17 for end Jul Cab, item 4a
PDF 628 KB
- Appendix 2 Strong Communities Select Budget Monitoring Report Month 2 2016-17 for end Jul Cab, item 4a
PDF 607 KB
- Appendix 3 Economic Development Select Report Month 2 2016-17 for end Jul Cab, item 4a
PDF 508 KB
- Appendix 4 Adult Select Budget Monitoring Report Month 2 2016-17 for end Jul Cab, item 4a
PDF 384 KB
- Appendix 5 Children and Young People Select Report Month 2 2016-17 for end Jul Cab, item 4a
PDF 576 KB
Decision:
That Cabinet notes the extent of forecast revenue overspend at period 1 of £1.37 million.
That Cabinet requires Chief Officers to provide information on how the overspend position will be brought back within budget, including alternative plans to deliver the £301,000 mandated savings reported as not achievable in the next monitoring report.
That Cabinet requires Directors to review levels of over and underspends and reallocate budgets to reduce the extent of compensatory positions needing to be reported prior to month 6 reporting.
That Cabinet appreciates the extent of predicted schools reserve usage and the anticipation that 13 schools will be in a deficit position by end of 2016-17.
That Cabinet considers the capital monitoring which exhibits only a small variance to budget as a result of recent Cabinet and Council approval on Caerwent House.
That Cabinet recognises the risk associated with having to rely on a use of capital receipts in the year anticipated and the potential for this to have significant revenue pressures should receipts be delayed and temporary borrowing be required.