Issue - meetings
Financial Monitoring Report
- OSC Business Financial Monitoring Report Quarter 2 Appendix 1, item 27 PDF 54 KB
- Webcast for Financial Monitoring Report - Quarter 2 2018/19
The Senior Manager for Financial Planning and Policy, introduced the report of the Director of Finance and Investment which set out the Council’s revenue and capital monitoring position for 2018/19 quarter 2.
The quarter 2 revenue report showed a forecast for the £0.4million overspend by the year end. This was identified as being £0.5million worse than in the first quarter. The quarter 2 capital report showed an expenditure of to date of £6.4million on a revised programme of £19.2million.
Members were informed that budget movements in quarter two cover a number of issues, the largest of these was the distribution of the £10million transformation funding to Children’s Services. It was explained that these movements had no effect on the bottom line budget of the Council and were just adjustments to reflect where budgets should be placed.
The Senior Manager for Finance informed the committee that the 2nd quarter forecast could be attributed as follows:
· Finance and Resources: Overspend in relation to agency and recruitment costs.
· Jobs and Growth: Overspend in this area is Legal costs relating to Wirral Waters One.
· Law and Order: Overspend due to enhancement payments, overtime payments and shortfall in income targets.
Details of the Capital Programme 2018/19 at the end of Quarter 2 were provided in the report as follows:
· Dock Bridges – a further of £0.8million had been incurred in respect of the current replacement scheme.
· Highway maintenance – the most significant areas of expenditure are in respect of micro asphalting (£0.85million) and the programme of surface dressings (£0.40million)
· Sustainable Transport Enhancement Programme (STEP) – Focuses on 2 significant schemes; Northbank East (£0.46 million) and the Croft Retail Corridor.
· Transport for Growth – the most significant being the improvements to the junction of the M53 and A554 (£0.356 million)
· Grant funding of £0.563 million – available to fund pothole repairs
· Street lighting column upgrade/ LED replacement – the tender will be advertised in November 2018 with an anticipated start date of January 2019
· West Kirby flood alleviation – ground work investigations currently being undertaken with the tender to be issues in November.
· Digital corporate storage – there are a number of solutions available with each of the main vendors, such as Dell EMC and Netapp offering various options.
· Windows 10 rollout – the Digital team would be providing all staff with new computers featuring the latest Operating System ( Windows 10), and providing additional software to make it easier for staff to work in an agile way.
Responding to questions from Members, The Senior Manager informed the Committee that the spend on potholes is now closer to £450,000 and not £300,000 as previously reported. She then informed the Committee that when the forecast is further reviewed she is hopeful that it will come back in a balanced position.
In response to a further question, Members were informed that with reference to the West Kirby flood tender, a series of workshops with residents would be conducted and details have been published in the Wirral View ... view the full minutes text for item 27