Councillors and committees

Decision details

Finance and Budget Monitoring Report to 31 December 2016

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

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

Decision:

RESOLVED:

 

That the report be noted, including the following:

 

1.    That the forecast revenue budget outturn for 2016/17 was +£1.1m overspend, down from +£6.1m last month (Annex, paragraph 1 of the submitted report).

2.    That forecast efficiencies and service reductions for 2016/17 were £65.1m, up from £62.9m last month (Annex, paragraph 48 of the submitted report).

3.    That the quarter end positions for: balance sheet, earmarked reserves, debt and treasury management be noted (Annex, paragraphs App 7 to App 21 of the submitted report).

4.    That the Section 151 Officer’s commentary and the Monitoring Officer’s Legal Implications commentary be noted(paragraphs 16 to 20 of the submitted report). .

5.    That a reduction in the 2016/17 capital budget by £10.7m related to local growth deal programme consolidation be noted (Annex, paragraph 59 and 60 of the submitted report).

6.    That £1.4m highways capital funding and expenditure relating to maintenance and flood risk management between 2016/17 and 2017/18 be re-profiled (Annex, paragraph 61 of the submitted report).

7.    That the 2016/17 capital budget by £0.8m related to re-evaluation of the scheme for a new fire station in Spelthorne be reduced (Annex, paragraph 62 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 item may be called in by the Council Overview Board]

Report author: Kevin Kilburn

Publication date: 01/02/2017

Date of decision: 31/01/2017

Decided at meeting: 31/01/2017 - Cabinet

Effective from: 09/02/2017

Accompanying Documents: