Decision details

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

RESOLVED:

That the report be noted, including the following:

1.       Early forecast revenue budget outturn for 2017/18, ahead of identifying

mitigating actions, was £24m overspend, as detailed in Annex, paragraph 1 of the submitted report. This includes: £9m savings to be identified, £7m savings considered unachievable, and £11m service pressures.

2.       Forecast savings for 2017/18 total were £88.5m against £104.0m target, as set out in the Annex, paragraph 28 of the submitted report.

3.       The Section 151 Officer’s commentary and the Monitoring Officer’s Legal

Implications commentary, as set out in paragraphs 15 to 18 of the submitted report.

4.       That the following revenue budget virements, as detailed in the Annex, paragraph 27 of the submitted report be approved:

· £6.9m from Central Income & Expenditure to Budget Equalisation Reserve;

and

· £0.12m from Budget Equalisation Reserve for sums carried forward to

support corporate apprenticeships.

5. That the following capital budget carry forward, funding adjustment and re-profile requests be approved:

· £45.9m net movement on the Property service capital budget comprising

£10.0m carried forward from 2016/17 and £55.9m rescheduled from 2017/18

to the remaining years of the capital programme, as set out in the Annex, paragraph 45) of the submitted report.

· £1.0m net movement on the Information Technology and Digital capital

budget, comprising £0.9m carried forward from 2016/17 and £0.1m brought

forward from the remaining years of the capital programme, as set out in the Annex,

paragraph 46 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 decisions on this item can be called in by the Overview and Budget Select Committee]