The organisation had budgeted for a surplus of £129k for this in the financial year so results are slightly down on this due to the continued front loading of some elements of non-recurrent expenditure approved by SMT. We have completed a rolling forecast for the year and this continues to support a break even position for the organisation. Segmental performance The performance of each of the organisation’s segments is detailed in Appendix 1. In summary the main trends are as follows: Core Services Core services are reporting a small surplus position, slightly below the budgeted level for this point in the year. Vacancy levels in some of the larger staffing areas including FPS, PALS and ITS have led to an under spend in pay, which is off-set by an over-spend in non-pay due to other non-recurrent expenditure. ITS programme The ITS revenue programme spend to date is £9.2m of a planned £15m for the year - this covers over 90 individual projects / schemes, and the profile of expenditure for these schemes is monitored through a project management tool. The level of spend this month returned to levels more in line with months 4 and 5.
The organisation had budgeted for a surplus of £129k for this in the financial year so results are slightly down on this due to the continued front loading of some elements of non-recurrent expenditure approved by SMT. We have completed a rolling forecast for the year and this continues to support a break even position for the organisation. Segmental performance The performance of each of the organisation’s segments is detailed in Appendix 1. In summary the main trends are as follows: Core Services Core services are reporting a small surplus position, slightly below the budgeted level for this point in the year. Vacancy levels in some of the larger staffing areas including FPS, PALS and ITS have led to an under spend in pay, which is off-set by an over-spend in non-pay due to other non-recurrent expenditure. ITS programme The ITS revenue programme spend to date is £9.2m of a planned £15m for the year - this covers over 90 individual projects / schemes, and the profile of expenditure for these schemes is monitored through a project management tool. The level of spend this month returned to levels more in line with months 4 and 5.
month_7_finance_report.docx