Joint report by Treasurer and Director of Scotland Excel.
2
There was submitted a joint revenue budget monitoring report by the Treasurer and the Director of Scotland Excel for the period 1 April to 19 July 2019.
The report intimated that at the end of period 4, Scotland Excel was projecting a break-even position in its Core activities and Projects were anticipated to contribute £173,000 to Core, as per the approved budget.
The 2019/20 budget had included a temporary drawdown from Project reserve balances carried forward of £120,000 to fund Supported Living/Care at Home activity. The Scottish Government had provided grant funding of £150,000 for this activity and this reserve funding was no longer required in 2019/20.
To better align to the reporting structure, budget adjustments between budget headings had been processed. In addition, a £14,000 reserve drawdown was now budgeted to cover the further 0.5% pay inflation awarded in 2028/19, as approved but not quantified in the 2019/20 budget report.
At 19 July 2019, the year-to-date net expenditure for Core was £694,000, which comprised gross expenditure of £927,000, less gross income of £233,000. The projection for the end of 2019/20 was a break-even position for Core.
The Projects year-to-date net expenditure was £59,000, which comprised gross expenditure of £341,000, less gross income of £282,000. Projects were expected to contribute £173,000 funding to Core Operations during 2019/20, as per the approved budget.
The table appended to the report provided an analysis of the actual spend to date along with projected net expenditure for 2019/20 and included a summary of movement in the Revenue Reserve, as well as a glossary of terms.
It was proposed that ‘other income’ be detailed in the glossary of terms in future revenue budget monitoring reports and this was agreed.
DECIDED:
(a) That the report be noted; and
(b) That ‘other income’ be detailed in the glossary of terms in future revenue budget monitoring reports.