Issue - meetings

This report provides an updated forecast for 2018/19 and seeks the Joint Management Committee’s approval of both the 2019/20 budget and the recommended precept to be levied on the constituent authorities.

The Committee was presented with a report detailing an updated forecast for 2018/19 and recommended precept to be levied on the constituent authorities.

It was noted that there had been a forecast deficit in quarter two which was due in the main to increased maintenance costs.  It was anticipated that the deficit would increase by a further £28,800 in quarter three due to undertaking of urgent pothole repairs.  It was further noted that the works were essential and could have triggered liability claims if not rectified.

It was further noted that whilst the income budget for 2019/20 was expected to increase by 2%, rental income from Flat 3 had not been included as letting opportunities were limited owing to type of lease being offered.

Having considered the forecasts detailed in Annex 1 of the report, the Committee:

(1)            Noted the latest 2018/19 forecast position

(2)            Agreed the revenue budget for 2019/20 as set out in Annex 1

(3)            Agreed to seek contributions of £101,400 from both Epsom & Ewell Borough Council and the London Borough of Sutton for the financial year 2019/20.