Decision details

RESOLVED: 

1.         That the forecast revenue budget outturn for 2016/17 is a +£22.4m overspend (Annex, paragraph 1 of the submitted report) be noted.

2.         That the forecast efficiencies and service reductions for 2016/17 is £60.3m (Annex, paragraph 32 of the submitted report) be noted.

3.         That the quarter end positions for: balance sheet, earmarked reserves, debt and treasury management (Appendix, paragraphs App 8 to App 32 of the submitted report) be noted.

4.         That the Section 151 Officer’s commentary, Financial and Value for Money Implications and the Monitoring Officer’s Legal Implications commentary (main report, paragraphs14 to 18 of the submitted report) be noted.

5.         That Members and officers should act urgently to identify, agree and implement actions to reduce the 2016/17 overspend (Annex, paragraph 4 of the submitted report)

6.         That the Cabinet and other leading members to bring the council’s budget issues to the attention of Surrey’s MPs (Annex, paragraph 5 of the submitted report)

7.         That a request to reprofile Surrey Fire & Rescue Service’s capital budget (Annex, paragraph 42 of the submitted report) be approved.

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.