Decision details

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

RESOLVED:

To note that:

1.   As at 31 May 2018, the Council’s overall revenue budget position was as follows:

·      £2.8m forecast year end underspend (Annex, paragraph 1),

·      £65.3m forecast planned savings, against £66.0m target (Annex, paragraph 3),

·      £15m risk of increased service pressures in SEND,

·      Target of £15m additional in year savings in 2018/19.

That the following be approved:

2.   Agreed in principle to continue to use the Waste Sinking Fund to smooth Eco Park construction cost variations across years (Annex, paragraph 34).

3.   Highways & Transport requested to draw down £0.155m from three revenue carry forwards made in 2017/18 to fund committed and in-progress projects including:

·      £85,000 Members’ allocations for bursaries and a school and recycling project;

·      £45,000 for committed bridge assessments; and

·      £25,000 for traffic signals maintenance delayed due to bad weather.

4.   Highways & Transport requested a £0.9m increase to the capital budget to reflect additional pothole grant announced by the Department for Transport on 26 March 2018.

5.   Highways & Transport requested to draw down £4.67m capital carry forwards to fund committed and in-progress projects, including:

·      National Productivity Investment Fund grant-funded Farnham Bridge and A24 Epsom Resilience schemes, plus match funded A23 Local Growth Deal scheme;

·      Highways major maintenance and bridge strengthening schemes.

Reasons for decisions:

This report was 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 Corporate Overview Select Committee]