Issue - meetings

Finance Update

Meeting: 13/10/2020 - Coalville Special Expenses Working Party (Item 14)

14 Finance Update pdf icon PDF 183 KB

Report of the Head of Community Services

Additional documents:


Paul Sanders, Head of Community Services presented the report, setting out the latest financial figures for the Coalville Special Expenses Area.


As there was now an overall reduction in expenditure of £76,000, mainly due to grounds maintenance work and several events not being carried out, there would now be a contribution to reserves of £61,000 instead of the planned £15,000 overspend.


Therefore, as this would take reserves to a total of £142,000 at year-end there was a unique opportunity to consider using this money for investments such as those on Coalville Christmas Lights agreed earlier in the meeting. The Head of Community Services concluded by outlining several different options for the use of this money which Members could consider going forward.


The Chairman thanked the Head of Community Services for his report and opened up the discussion to Members.


It was observed that although the amount of extra spending available going forward might seem high, it was important that any extra spending be decided prudently.


Improvements and repairs to play equipment in Coalville were identified as a possible area to commit to extra spending  going forward.


It was moved by Councillor J Geary, seconded by Councillor J Legrys and by affirmation of the meeting



The Working Party notes the 2019/20 Final Outturn figures and the 2020/21 Period 3 Actuals and the forecast for the year.