Decision details

The Leader commented that the Quarter 1 reductions in car parking and garage rental income could well indicate a slight downturn in the town’s economy.  She added that action might need to be taken should the trend continue throughout Quarter 2.  The Chief Executive undertook to circulate to Executive Members the latest Welfare Reform Dashboard monitor for Stevenage.

It was RESOLVED:

General Fund

1.         That the 2019/20 1^st Quarter projected net increase in General Fund expenditure of £193,570 be approved.

2.         That it be noted that cumulative changes made to the General Fund net budget remains within the £400,000 increase variation limit delegated to the Executive.

3.         That it be noted that the 2020/21 ongoing net pressure of £47,190 will be incorporated into the General Fund Medium Term Financial Strategy (MTFS).

Housing Revenue Account (HRA)

1.         That the 2019/20 1^st Quarter projected net increase in HRA net deficit of £111,330 be approved.

2.         That it be noted that the cumulative increases made to the HRA net budget remains within the £250,000 increase variation limit delegated to the Executive.

Reason for Decision: As contained in report.

Other Options considered: As contained in report.