How we managed resources in 2004/05
Variations from the approved budget
For 2004/05 the budget was set at £280.403m and allocated to services as shown on the service variation summary in the following page. All services are closely monitored during the year as part of the continuous budget process. This process highlights any areas where costs may be exceeded or additional income received and provides an early warning to ensure that if necessary appropriate corrective action can be taken. In the main each directorate is expected to meet any unforeseen expenditure by making compensatory savings elsewhere.
Generally additional expenditure items have been met by reductions achieved elsewhere in the revenue budget but there have been a few significant spending variations. In particular there has been an increase in costs relating to the Homelessness service £0.5m and the provision of placements in Independent Special Schools £0.4m. These increases have been more than compensated by favourable variations in expenditure or windfall income, specifically from savings resulting from the rescheduling of debt and an increase in the anticipated dividend income. The net result of these variations enables £0.5m to be contributed to reserves in 2004/05.
A summary of the major variations is given below: -
2004/05 variations from the approved budget to the projected outturn
|
£M |
£M |
|
| Approved budget 2004/05 |
280.403 |
|
| Major variations: | ||
| Community Committee Budgets - increased allocation |
0.250 |
|
| Independent Special School placements |
0.400 |
|
| Implementation of Green Waste Recycling Scheme |
0.111 |
|
| Homelessness - bed and breakfast provision |
0.500 |
|
| Approved c/fwd of Directorate under-spends in 2003/04 |
0.459 |
|
| Funded by: | ||
| NNDR reduction in rateable values on leisure facilities |
-0.500 |
|
| Debt Rescheduling savings |
-1.000 |
|
| Dividend Income in excess of budget |
-0.568 |
|
| Contribution from funds and provisions |
-0.193 |
|
|
-0.541 |
||
| Contribution to reserves |
0.541 |
|
| Outturn budget 2004/05 |
280.403 |
The impact of these variations on the allocation of budgets to services is given in the summary of variations 2004/05.
This page was last updated on 15 April 2005
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