Agenda - pdf - Selby District Council

2.5 Continuing uncertainty within the economy and future cuts to public
sector funding mean that robust budget management is essential to
ensure services are delivered within the budgets set.
2.6 Contingency budgets are also available to fund one-off issues, should
the need arise.
Capital
2.7 Currently there are no capital budget exceptions for the 2011/12
financial year. However there is a potential for an issue with damp
proof works if the current trend continues for the rest of the year.
Officers are currently quantifying the situation and a verbal update will
be given at the meeting.
Savings
2.8 Appendix C presents an update on progress against the Council’s
savings action plan for the General Fund and HRA.
2.9 Overall progress on savings is positive for 2011/12, with General Fund
savings of £1.541m and HRA savings of £192k, either achieved or on
track to be achieved by the end of the year.
2.10 Looking ahead to 2012/13 and beyond there is still a gap of around
£809k between the savings target on the General Fund (including an
additional £500k added from an update of the MTFS) and £62k on the
Housing Revenue Account. Proposals for additional savings will be
brought forward as part of the forthcoming budget cycle.
3. Legal/Financial Controls and other Policy matters
3.1 Legal Issues
There are no legal issues as a result of this report.
3.2 Financial Issues
The financial issues are highlighted in the body of the report.
4. Conclusion
4.1 Overall the first half year financial results are encouraging although
there are a number of external factors which are impacting upon
income and expenditure. Officers are monitoring and managing their
budgets closely and currently have plans in place to deal with and
react to the impact of the external factors placed upon them.
5. Background Documents
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