Issue - meetings

KD 4550 - Revenue Monitoring Report - January

Meeting: 22/03/2018 - Cabinet (Item 6)

6 Revenue Monitoring Report 2017/18: January 2018 pdf icon PDF 195 KB

A report from the Executive Director of Finance, Resources and Customer Services is attached. (Key decision reference number 4550)

(Report No.163)

(8.20 – 8.25 pm)


Fay Hammond (Director of Finance) introduced the report of the Executive Director of Finance, Resources and Customer Services (No.163) setting out the Council’s revenue budget monitoring position based on information to the end of January 2018.


NOTED that Members’ attention was drawn to Table 2 of forecast projected departmental outturn variances. The budget adverse variance has improved from £3.8m in December 2017 to £2.3m in January 2018.


Alternative Options Considered: Not applicable to this report.


DECISION: The Cabinet agreed to note


1.    The £2.3m 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 4550)