Decision details

To consider the month end budget report and make any recommendations as appropriate

That the report be noted, including the following:

1.       the council’s forecast revenue position for 2015/16 is to overspend by £1.8m, as set out in Annex 1, paragraph 1 of the submitted report.

2.       the council’s forecast achievement of efficiencies for 2015/16 is £66.5m, as set out in Annex 1, paragraph 25 of the submitted report.

3.       the council’s forecast capital expenditure for 2015/16, including long term investments, is £189.1m, as set out in Annex 1, paragraphs 33 and 34 of the submitted report.

4.       services’ management actions to mitigate any significant overspends, as set out in Annex 1 of the submitted report be noted.

That the following virements be approved:

·         £1.0m revenue virement from the Economic Prosperity budget to budgets across Environment & Infrastructure Directorate to enable preparatory work on Local Growth Deal schemes to continue, as detailed in Annex 1, paragraph 14 of the submitted report.

·         £0.7m revenue virement from the Central HR Training Budget to most services to allocate service specific training budgets for 2015/16, as detailed in Annex 1, paragraph 15 of the submitted report.

·         £0.75m capital virement from highway maintenance to additional flooding and drainage and embankment works, as detailed in Annex 1, paragraph 35 of the submitted report.

·         £22.3m capital virement to reprofile of 2015/16 capital spending into future years, while maintaining the council’s overall investment over the five year programme, as detailed in Annex 1, paragraph 36 of the submitted report.

Reasons for Decisions:

This report is presented to comply with the agreed policy of providing a monthly budget monitoring report to Cabinet for approval and action as necessary.

[The decision on this can be called in by the Council Overview Board]