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Delivery directorate quarterly service report - budget position

Revenue budget

The original cash budget for the department was £18.950 million. Net transfers of £-3.851 million have been made bringing the current approved cash budget to £15.099 million. A detailed analysis of the budget changes in this quarter is available below.

There are 9 variances to report in the third quarters monitoring.

The department has identified the following as budgets that can pose a risk to the council’s overall financial position, principally because they are vulnerable to significant changes in demand for a service.

The current position with regard to these is as follows:

Table showing budget concerns

Service Area

Budget (£000)

Forecast outturn (£000)

Comments

Commercial Property

(7574)

(7574)

Increased voids and void periods resulting in reduced income.

Although these budgets pose a risk to the council, careful management has made sure that there is little adverse impact forecast at this point.

Capital budget

The total approved capital budget for the year is £8.612 million.

Expenditure to date is £4.009 million representing 53.58% of the budget. The department anticipates 13% (£1.130 million) of the total approved budget to be carried forward into the next financial year.

A detailed list of schemes together with their approved budget and forecast spend is available below.