Revenue Budget Monitoring report 31st January

A copy of the Revenue Budget Monitoring Report to 31 January 2018 was circulated with the Agenda. The Report showed a surplus of £36,108 against the budget to 31 January 2018.   The Finance Manager explained the variances contained within the report.  It was noted that interest was being received on the City Council’s investment.

Capital Monitoring Report

A copy of the Capital Monitoring Report 2017/2018 was circulated with the Agenda and noted that no expenditure had occurred to date.

New Homes Bonus Report

A copy of the New Homes Bonus Monitoring Report was circulated with the Agenda.  The Finance  Manager  advised  that  officers  were  monitoring  the  allocations  particularly  the 2015/2016  South  Downs  Planetarium  application  which  needed  to  be  claimed  before October 2018 or an extension applied for and agreed with Chichester District Council by June 2018.

Valuation of buildings

The Finance Manager advised that when negotiating the new 3-year agreement with Zurich, they had agreed to assist the City Council in undertaking a valuation on the City Council owned buildings.  However, it had been difficult to find a company to carry out such a valuation but a company had now been selected and as a goodwill gesture Zurich have offered to contribute £1,175 towards the overall cost of the valuation of £2,350.

Equipment purchases

The purchase of two items was agreed – a portable water bowser for £2,473 and an upgrade to the access control entry system for the Council House at a cost of £1,368.

Festival Theatre Freedom Ceremony

The Chichester Festival Theatre had initially advised the staff costs on the day of the Freedom Ceremony would be up to £1,000 and it was agreed this could be funded from the budget allocated for this event. However, the theatre had now advised the Council of additional costs totalling £1,500. It was proposed, agreed that an ex-gratia payment of £1,000 be made, part funded from the underspend in the Events Budget. The Theatre had proven to be a superb venue for this event that was beneficial to the City and the City Council were grateful for the long-term support of the Theatre in this matter.

Edited extracts from meeting minutes. Full details can be found at www.chichestercity.gov.uk