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.         That services forecast a £1.1m revenue budget variance at year end, as set out in Annex 1, paragraph 1 of the submitted report.

2.         That services forecast to achieve £63.8m efficiencies and service reductions by year end, as set out in Annex 1, paragraph 28 of the submitted report.

3.         That the total forecast capital expenditure for 2015/16, including long term investments, be £183.2m, as set out in Annex 1, paragraph 38 of the submitted report.

4.         The quarter end positions for: balance sheet, earmarked reserves, debt and treasury management, as set out in Annex 1, paragraphs App 7 to App 22 of the submitted report.

5.         That a virement of £7.1m to reflect direct schools grant funding in relation to delays in academy conversions and updates on other direct school grants estimates, as set out in Annex 1 paragraphs 3 to 5 of the submitted report, be approved.

6.         That the use of Central Government Care Act new burdens funding by Adult Social Care to manage increased demand and new Care Act responsibilities that are causing pressure on the budget, as set out in Annex 1, paragraphs 10 and 11 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.

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