Issue - meetings

Review of Financial Performance 2018/19

Meeting: 09/07/2019 - Executive (Item 14)

14 Review of Financial Performance 2018/19 pdf icon PDF 605 KB

(To receive a report from the Executive Director – Resources, which describes the Council's financial performance in 2018/19)

Additional documents:

Decision:

That the Executive:

 

(1)  Notes the carry forwards set out in paragraphs 1.135 to 1.137 of this report, which are made in line with the Council's Financial Regulations and Financial Strategy;

 

(2)  Recommends to full Council that the proposals in paragraph 1.138, 1.139 and 1.141 relating to the treatment of underspends in excess of 1%, be approved;

 

(3)  Notes the transfers to and from reserves carried out in 2018/19 as set out in Table E;

 

(4)  Notes financial performance in 2018/19 as set out in Table A (Key Financial Performance Measures), Table B (Revenue Budget Final Outturn), Table C (Net Capital Programme Summary Outturn), Appendix D (Prudential Indicators) and Appendix A(1) (Flexible Use of Capital Receipts); and

 

(5)  Recommends to full Council the updated Flexible Use of Capital Receipts Strategy for 2019/20 as set out in Appendix A(2).

Minutes:

Consideration was given to a report from the Executive Director – Resources, which described the Council's financial performance in 2018/19.

 

The Assistant Director – Strategic Finance presented the report to the Executive, which described the Council's financial performance in 2018/19; identified and explained the variances from the Council’s revenue and capital budgets; reported the use made of flexible capital receipts to fund revenue expenditure on transformation during the years up to and including 2018/19; made proposals on the carry forward of over and under spends into the current financial year 2019/20; reported the Prudential and Financial Performance Indicators for 2018/19; and proposed an updated Flexible Use of Capital Receipts Strategy for 2019/20.

 

It was highlighted that the report was scheduled for consideration by the County Council at its meeting 13 September 2019.

 

The Chairman of the Overview and Scrutiny Management Board advised that on 27 June 2019, the Board had considered the report and agreed to support the recommendations to the Executive.  The comments of the Board were detailed at pages 168 – 169 of the Agenda Pack.  It was advised that further information had been obtained from service areas, as detailed below:

 

Flood and Risk Management

 

It was reported that there was a programme of work for the £97,000 (2018/19) underspend on flood and risk management, which had occurred prior to the flooding in Wainfleet.  Work would continue with the Environment Agency and other bodies to deliver schemes using these funds. 

 

Children's Centres

 

It was reported that the majority of the £161,000 children's centres underspend (£99,000) related to planned one-off investment in the centres, for example furnishings, re?decorating and some structural work, which would be completed during 2019-2020.  The remaining underspend related to non-recurrent income for commissioned services and the running costs of the children's centres.  

 

Adoption

 

It was confirmed that funding was not a factor in adoptions taking 362 days on average.  Benchmarking had showed that Lincolnshire performed better than statistical neighbours in the time it took for an adoption to be processed. 

 

It was suggested that consideration be given to how the schools' ring-fenced budget would be presented in future reports, with an aim of removing any confusion.

 

RESOLVED

 

That the Executive:

 

(1)  Notes the carry forwards set out in paragraphs 1.135 to 1.137 of this report, which are made in line with the Council's Financial Regulations and Financial Strategy;

 

(2)  Recommends to full Council that the proposals in paragraph 1.138, 1.139 and 1.141 relating to the treatment of underspends in excess of 1%, be approved;

 

(3)  Notes the transfers to and from reserves carried out in 2018/19 as set out in Table E;

 

(4)  Notes financial performance in 2018/19 as set out in Table A (Key Financial Performance Measures), Table B (Revenue Budget Final Outturn), Table C (Net Capital Programme Summary Outturn), Appendix D (Prudential Indicators) and Appendix A(1) (Flexible Use of Capital Receipts); and

 

(5)  Recommends to full Council the updated Flexible Use of Capital Receipts Strategy for 2019/20 as set out in Appendix  ...  view the full minutes text for item 14


 

 
 
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