Issue - meetings

To receive information on financial monitoring for General Fund Revenue, Housing Revenue Account (HRA) and Capital Plan, as at Quarter 1 (month 3), 2019-20.

Ward: N/A

Portfolio: Corporate

Contact:  James Anderson, Head of Service, Accountancy and Sarah Hill, Finance Manager Tel: 01484 221000

(1)  That in regards to the General Fund; (i) approval be given to roll forward the £4.2m High Needs overspend through the Dedicated Schools Grant mechanism (ii) the 2019-2020 forecast revenue overspend of £2m as at Quarter 1, net of (i) above, be noted (iii) the expectation for Strategic Directors to work to identify opportunities for spending plans to be collectively brought back in line within the Council’s overall budget by year end be noted (iv) the Forecast year end position on corporate reserves and balances be noted and (v) regular monitoring and review of corporate reserves in 2019-2020 be reported to Cabinet as part of the quarterly financial monitoring cycle.

(2)  That in regards to the Collection Fund; (i) the forecast position on the Collection Fund as at quarter 1 be noted and (ii) that approval be given to the allocation of the Leeds City Region Pool surplus against schemes as detailed at para 1.7 of the considered report.

(3)  That the Quarter 1 forecast Housing Revenue Account surplus at £0.9m and forecast year-end reserves position of £61.2m be noted.

(4)  That in regards to Capital; (i) the Quarter 1 forecast capital monitoring position for 2019-2020 be noted (ii) a more detailed review of the in-year capital forecast for Quarter 2, including recommendations for scheme re-profiling across years be submitted to Cabinet and (iii) approval be given to the capital expenditure for Kirklees Stadium Development Limited, as detailed at para 1.9.7 of the considered report.