Public reports pack PDF 3 MB - Blaby District Council

The overall forecast variance equates to an increase of £175,496 or 1.92%
against the original full year budget. The table below shows the most
significant individual changes that have contributed to this overall variance:
Analysis of Significant Variances
Increases in Expenditure/Reductions in Income
Establishment
51,293
Reduction in Locality Partnership funding 10,000
Reduction in income from Council Tax Summons costs 30,000
Reduction in income from Planning Fees 75,000
Reduction in Pest Control fees and charges 17,176
Refuse & Recycling Composting fees 11,330
Reduction in Refuse & Recycling income 162,597
Provision for Boxes to Bins Trial 20,000
Costs associated with Depot Relocation project 30,000
Compromise Agreements 20,155
Reductions in Expenditure/Increases in Income
Brought Forward budgets no longer required (34,272)
Reduction in External Audit Fees (78,370)
Estimated Loan Interest Payable (20,584)
Estimated Investment Income Receivable (103,146)
Minimum Revenue Provision (13,895)
Other Minor Increases/(Decreases) in Net Expenditure (1,788)
Total Variance
£
175,496
Based on the above forecast there is a need to make an additional
contribution of £175,496 from the Council’s balances to support net revenue
expenditure.
6.5 Utilisation of General Reserve Fund
The Council established a General Reserve Fund at the start of the current
financial year to provide a source of funding to:-
a) mitigate the short term impact of any loss of formula grant
b) provide the opportunity for “invest to save” projects to be delivered
subject to a sound business case
This fund stood at £2.247m at 1 st April 2012. Planned utilisation during the
year includes £200,000 to support the 2012/13 budget and a further £177,104
to cover the costs of two major capital schemes – the website development
project and the new revenues and benefits system.
In accordance with the Medium Term Financial Strategy, future utilisation to
underpin General Fund Revenue Account expenditure is planned to be at a
much reduced level. Based on the above transactions the fund will stand at
£1.870m at 1 st April 2013.
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