Decision details

The Executive endorsed the Leader’s concerns regarding the delay to completion of the Council’s 2018/19 due to the capacity/resourcing issues experienced by the External Auditor, especially in the light of the close down of accounts deadline being brought forward to 31 July 2019.  Members noted that the Assistant Director (Finance & Estates) had raised these concerns with Public Sector Audit Appointments (PSAA), and asked her to bring the PSAA’s response to the Executive when received.

In response to questions, the Assistant Director (Finance & Estates) advised:

·           Paragraph 4.2.7 – Investment Property income – Officers were actively pursuing the acquisition of 2 office blocks in the town that had been recently marketed.  Counsel’s opinion was to be sought on the feasibility of the Council acquiring investment property located outside of the Borough;

·           Paragraph 4.5.3 – The one year only additional income from Commercial Property rent reviews saving of £26,790 related to the payment of backdated rent following the completion of a rent review.

It was RESOLVED:

General Fund

1.            That the 2018/19 actual net expenditure on the General Fund of £9,263,688 be noted, subject to the 2018/19 audit of the Statement of Accounts.

2.            That new carry forward requests totalling £591,770 be approved for the General Fund (Paragraph 4.3.1 of the report).

3.      That the ongoing pressure from 2019/20 of £15,800 on the General Fund be approved.

4.      That the 2019/20 one year only saving of £26,790 on the General Fund be approved.

Housing Revenue Account

1.      That the 2018/19 actual in year deficit on the HRA of £2,812,606 be noted, subject to the 2018/19 audit of the Statement of Accounts.

2.      That new carry forward requests totalling £35,740 be approved for the HRA (Paragraph 4.7.7 of the report).

3.      That the ongoing saving of £30,730 on the HRA be approved, this will contribute towards the Council’s Financial Security objectives for 2019/20.

Reason for Decision: As contained in report.

Other Options considered: As contained in report.