Item 16 - HAC General Fund to Period 5
West Dunbartonshire Council · 22 November 2023
Back to Housing & Communities Committee — 22 November 2023 and its agenda
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WEST DUNBARTONSHIRE COUNCIL Report by Chief Officer – Resources Housing and Communities Committee: 22 November 2023 ___________________________________________________________________ Subject: General Fund Housing and Communities Financial Report 2023/24 as at Period 5 (31 August 2023) 1. Purpose 1.1 The purpose of the report is to provide the Committee with an update on the financial performance to 31 August 2023 (Period 5) of General Fund services under the auspices of the Housing and Communities Committee. 2. Recommendations 2.1 Members are asked to: i) note the contents of this report which shows the revenue budget forecast to overspend against budget by £0.070m(2.1%) at the year end. ii) note the net projected annual position in relation to relevant capital projects which is showing no projected variance; and iii) note the progress on efficiencies incorporated into budgets for 2023/24. 3. Background 3.1 Revenue Budget At the meeting of West Dunbartonshire Council on 01 March 2023, Members agreed the revenue estimates for 2023/24. A total net budget of £3.303m was approved for services under the remit for Housing and Communities services at that time. Capital 3.2 At the meeting of Council on 01 March 2023, Members also agreed the updated 10 year General Services Capital Plan for 2023/2024 to 2032/33. The next three years from 2023/24 to 2025/26 have been approved in detail with the remaining 7 years being indicative at this stage. The total project life budget approved for projects that have either commenced or are due to commence in that period total for Housing and Communities services was £0.006m. ITEM 16
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4. Main Issues Revenue Budget 4.2 Appendix 1 shows the probable outturn for the services at £3.373m. As the annual budget is £3.303m there is a projected adverse variance currently projected of £0.070m. A more detailed analysis by service is given in Appendix 2. Comments are shown in Appendix 3 when there are projected net annual variances greater than £0.050m and also where the net variance is below £0.050m but there are offsetting variances of over £0.050m within the service. Appendix 4 shows progress on the achievement of saving options adopted as part of the 2023/24 budget. It should be noted that £0.191m of the Council’s smoothing fund has been allocated to Communities to offset the reduced savings now expected due to delay in savings around restructure implementation .The figures in this report reflect this allocation and therefore there is no adverse variance required to be shown in Communities since it is covered by this offsetting allocation. Capital Budget 4.3 The overall programme summary report is shown in Appendix 5. The analysis shows that for the in-year planned spend there is currently no projected variance. 5. People Implications 5.1 There are no people implications. 6. Financial Implications 6.1 Other than the financial position noted above, there are no financial implications of the budgetary control report. 6.2 Agreed efficiencies for 2023/24 are monitored with current indications being that £1.895m of the savings budgeted of £2.086m will be achieved (see Appendix 4). As noted in 4.2 above, the smoothing fund will be used to offset this £0.191m shortfall. 7. Risk Analysis 7.1 The present variances should be viewed in the knowledge that there are a number of variable factors which could arise between now and 31 March and which could affect the year end results for both the revenue and capital budgets. 7.2 Assumptions around service demand and timing of nationally agreed changes through the phasing out of lockdown change regularly and therefore there is a significant risk that the projected year end budgetary position will change from that reported.
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8. Equalities Impact Assessment (EIA) 8.1 The report is for noting and therefore no Equalities Impact Assessment was completed for this report. 9. Consultation 9.1 The views of both Finance and Legal services have been requested on this report and both have advised there are neither any issues nor concerns with the proposal. As the report is for noting no further consultation is envisaged. 10. Strategic Assessment 10.1 Proper budgetary control and sound financial practice are cornerstones of good governance and support Council and officers to pursue the five strategic priorities of the Council’s Strategic Plan. This report forms part of the financial governance of the Council. This report is for noting and, therefore, does not directly affect any of the strategic priorities. Laurence Slavin Chief Officer, Resources Date: 26 October 2023 ___________________________________________________________________ Person to Contact: Janice Rainey - Business Unit Finance Partner, 16 Church Street, Dumbarton, G82 1QL, telephone: 01389 737707, e-mail janice.rainey@west-dunbarton.gov.uk Appendices: Appendix 1 - Summary Budgetary Position (Revenue) Appendix 2 - Detailed Budgetary Position (Revenue) Appendix 3 - Variance Analysis (Revenue) Appendix 4 - Monitoring of Efficiencies/Savings Options (Revenue) Appendix 5 - Budgetary Position (Capital) Appendix 6 - Variance Analysis Green (Capital) Background Papers: None Wards Affected: All