Decision details

The Committee gave consideration to a report which provided a summary of the financial monitoring reports as at the end of December 2018.  There were 6 detailed reports summarised within the executive summary including the Revenue Budget Monitoring Report as at 31 December 2018; Monitoring of Service Package Policy Options as at 31 December 2018; Monitoring of Financial Risks as at 31 December 2018; Capital Plan Monitoring Report as at 31 December 2018; Treasury Monitoring Report as at 31 December 2018 and Reserves and Balances as at 31 December 2018.

In respect of the treasury monitoring update at paragraph 2.5.2 of the executive summary, the Head of Strategic Finance advised that there had been an error in the paper and advised that the paragraph should have read that there had been an increase of £0.019m in external borrowing due to new temporary borrowing of £0.028m and repayment of temporary borrowing of £0.09m.

Decision

The Policy and Resources Committee –

1.    Noted the Revenue budget Monitoring Report as at 31 December 2018.

2.    Noted the comments in respect of the Health and Social Care Partnership position and noted that a recommendation was included within the budget pack to agree to defer the pay-back of the 2017-18 Social Work overspend by the Health and Social Care Partnership by 1 year, resulting in repayments of £0.100m in 2019-20, £0.300m in 2020-21 and £0.755m in 2021-22.

3.    Noted the progress of the Service Package Policy Saving Options as at 31 December 2018.

4.    Noted the current assessment of the Council’s Financial Risks.

5.    Noted the Capital Plan Monitoring Report as at 31 December 2018 and approved the proposed changes to the Capital Plan as detailed at Appendix 7 to the submitted report.

6.    Noted the Treasury Monitoring Report as at 31 December 2018.

7.    Noted the Reserves and Balances report as at 31 December 2018.

(Reference: Report by Head of Strategic Finance dated 15 January 2019, submitted)