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General Fund Revenue Account Revenue and Capital Quarter 2 Budget Monitoring - Key Decision

Meeting: 05/11/2014 - Cabinet (Item 45)

45 General Fund Revenue and Capital Budget Monitoring, 2nd Quarter 2014/15 - Decision Number 14/041

Section A of report C/14/38 sets out a projected year end financial position on the General Fund for 2014/15, based on actuals to 31 July 2014. It identifies projected variances on the General Fund revenue outturn position for 2014/15 against the latest approved budget. It also recommends a virement of £100k from the in year net underspend to fund a study during the remainder of 2014/15 and 2015/16 to  examine the rationale and potential scope of economic development related activities within the vicinity of Junction 11 of the M20.

 

Section B of the report sets out a projected year end financial position on the General Fund capital programme for 2014/15. It identifies variances on planned capital expenditure for the General Fund based on data from 31 July 2014.

 

This issue was considered at a meeting of the Resources Scrutiny Committee held on 8 October 2014.

Supporting documents:

Minutes:

Section A of report C/14/38 set out a projected year-end financial position on the General Fund for 2014/15, based on actuals to 31 July 2014. It identified projected variances on the General Fund revenue outturn position for 2014/15 against the latest approved budget.  It also recommended a virement of £100k from the in-year net underspend to fund a study, during the remainder of 2014/15 and 2015/16, to examine the rationale and potential scope of economic development-related activities within the vicinity of Junction 11 of the M20.

 

Section B of the report set out a projected year-end financial position on the General Fund capital programme for 2014/15.  It identified variances on planned capital expenditure for the General Fund based on data from 31 July 2014.

 

The Resources Scrutiny Committee had considered this issue at a meeting held on 8 October 2014 and had resolved to receive and note draft Cabinet report C/14/38.

 

Proposed by Councillor Russell Tillson

Seconded by Councillor Alan Clifton-Holt

 

RESOLVED:

1.    To receive and note report C/14/38.

2.    To agree to the transfer of £100,000 from the Council’s 2014/15 revenue fund net underspend, from budget FL20 9221, Council Tax court cost income, to budget EC12 2602, Planning Policy professional advice and fees, to fund an economic development study in the vicinity of Junction 11 of the M20, as outlined in paragraph 3 of the report.

 

(Voting: For 10; Against 0; Abstentions 0)

 

Reason for Decisions:

In order to take appropriate action, if necessary, to deal with any variance from the approved budget.