Cabinet Member for Finance

Cabinet considered the report of the Head of Finance and the above Cabinet Member. The Cabinet Member for Finance introduced the report and was pleased with the forecast revenue underspend of £319,390.  He advised that where a zero variance was reported, officers were predicting a break-even position for the year. He advised of an error in the second recommendation, in that it should refer to period 1 and not period 3.  It was noted that all references to period 3 in the document should instead refer to period 1.

The Cabinet Member for Environmental and  Rural Affairs discussed the benefits of negotiated contracts with Maidstone and Ashford Borough Councils and Kent County Council. He also advised that there was now significant income from garden waste and that additional savings had been generated from the lower than expected inflation rates.

In response to comments regarding planning fees and the estimated overspend in Democratic Services, the Head of Finance undertook to respond to the Member concerning the estimated income for planning fees.  The Chief Executive considered that the report was a useful management tool, and confirmed that where a zero variance was shown, it was estimated that budgets would broadly balance overall and officers were more prudent in the first quarter about the likely end of year position.

RESOLVED:

(1)  That the projected revenue underspend on services of £319,390 be noted.

(2)  That  the capital expenditure of £119,800 to end of period 1 be noted.