The Head of Environment and Regulation presented a report of the Head of Financial Services and Acting Section 151 Officer that set out the financial monitoring information for this Committee. The report provided a basis for Members to scrutinise budget performance for the Directorate and provided financial information for Quarter 3 (October -December 2015) as reported to Cabinet on 22 February 2015.

The report informed of the following key points:

There had been a further underspend of £1.08 million this quarter.

Within Waste & Environment there was a forecast underspend of £0.2 million. The annual inflation rate applied to the Biffa contract was less than originally budgeted for resulting in a small underspend. There was also some additional income from litter enforcement fines and which was reflected within the above underspend position.

Due to EDRF funding for the salaries within Business Support being extended until November 2015, there was to be an underspend of approximately £0.1 million on employee budgets. There were also further potential underspends of £0.3 million from budgets set aside to match funding future grant delivery programmes. As yet these monies had not been committed.

In Housing there was also additional income from DFG fees and underspends from employee vacancies during the year.  A further £0.26 million had been added to this underspend by removing a budget allocated as a ‘revenue contribution to capital’ and using in its place other available capital programme resources.

Members noted the summary figures as below:

Capital Programme 2015/16 at end of Quarter 3 (31 December)

Resolved: That

1)  That the forecast year end underspend of £1.81 million in the Regeneration and Environment 2015/16 Revenue Budget position and actions taken during quarter 3 be noted.

2)  That the capital expenditure position at the close of quarter 3 totalling £14.9 million against a revised Capital Programme of £23.5 million be noted

3)  Members are requested to review the information presented to determine if they have any specific questions relating to the budget for the Regeneration and Environment Directorate.