High Level Revenue and Capital Budget Monitoring Report 2012 ...

1.5 At quarter 2, the annual General Fund usable capital receipts surplus for 2012/13 isforecast to be £3.1m. The cumulative surplus in capital receipts by 2015/16 is nowforecast to be £26.6m. It is anticipated, in accordance with the Council’s debtreduction strategy, that this surplus will be set aside to repay debt. The DecentNeighbourhoods cumulative surplus in resources for quarter 2 is £18.1m and isprojected to be £13.4m by 2015/16.1.6 The capital receipts forecast for quarter 2 is £20.7m for 2012/13 (compared with£28.9m for quarter 1).1.7 The 2012/13 quarter 2 General Fund capital programme has been revised to abudget of £57.8m (from £100.9m at quarter 1), the Decent Neighbourhoodsprogramme has been revised to £12.6m (from £6.1m at quarter 1), and the Housingcapital programme (HRA) is £32.2m (from £36.7m at quarter 1).2. RECOMMENDATIONS2.1 To note the contents of the report.3. REVENUE FORECAST – GENERAL FUND3.1 The second quarter revenue outturn forecast for 2012/13 shows an underspend of£2.158m. The details are summarised in Table 1 and expanded on in Appendix 1.Table 1: General Fund Forecast Outturn 2012/13DepartmentRevisedBudgetQuarter 2ForecastVarianceQuarter 2ForecastVarianceQuarter 1£m £m £mAdult Social Care 76.709 (1.696) (1.595)Children’s Services 55.953 0 0Unaccompanied Asylum Seeking1.519 0 0ChildrenEnvironment, Leisure & Residents35.037 0 0ServicesFinance and Corporate Services 15.069 (0.060) 0Housing & Regeneration 7.233 (0.023) (0.061)Transport & Technical Services 18.897 0.098 0.196Controlled Parking Account (20.543) 0.183 0.021Centrally Managed Budgets 33.823 (0.660) (0.583)Net Operating Expenditure 223.697 (2.158) (2.022)** Note that figures in brackets represent underspends3.2 The most significant underspend is in Adult Social Care (£1.7m). The favourablevariance in the Operations Division (£0.75m) mainly relates to the projecteddecrease in client numbers in Older People and Physical Disabilities. However, theunderspend has reduced since last reported due to 10 new clients in Older peopleand physical disabilities. The underspend in the Provided Service Division(£0.46m) is mainly due to the early achievement of a Mental Health efficiency(£0.2m) and a projected underspend (£0.26m) in the mental health placement