Issue - meetings

A report from the Executive Director of Finance, Resources and Customer Services is attached. (Key decision – reference number 4549)

(Report No.147)

(7.20 – 7.25 pm)

Councillor Doug Taylor (Leader of the Council) introduced the report of the Executive Director of Finance, Resources and Customer Services (No.147) setting out the Council’s revenue budget monitoring position based on information to the end of December 2017. James Rolfe (Executive Director of Finance, Resources and Customer Services) outlined the detail of the report for Members’ consideration.

NOTED

1.               That the revenue budget forecast reflected an outturn position of £3.8m overspend for 2017/18, which was a £0.2m improvement on the November forecast position.

2.               That Table 2 in the report set out the forecast projected departmental outturn variances. Work would continue to further reduce the projected overspend position. The appendices to the report set out in detail the departmental pressures and mitigating actions.

3.               That Appendix A6 of the report set out the variations to the Schools’ Budgets which did not form part of the General Fund position but were presented for information. This highlighted the significant funding pressures that were being faced by Schools.

4.               An error in Appendix A2 of the report in respect of Regeneration and Environment, Commercial Services Parks which should record an adverse rather than favourable variation.

Alternative Options Considered: Not applicable to this report.

DECISION: The Cabinet agreed to note

1.               The £3.8m overspend revenue outturn projection.

2.               That Cabinet Members would continue to work with Executive Directors to implement action plans to reduce the forecast overspend in 2017/18.

3.               The mitigating actions proposed to date by Executive Directors of overspending departments as set out in Appendix A of the report.

Reason: To ensure that Members were aware of the projected budgetary position, including all major budget pressures and underspends which had contributed to the present monthly position and that were likely to affect the final outturn.  

(Key decision – reference number 4549)