Issue - meetings

RESOLVED:

1.         That the Council’s overall revenue and capital budget positions as at 31 January 2019 was noted:

·         £1.3m forecast total draw down reserves;

·         £20m forecast underspend against the original 2018/19 budget; and

·         £122m forecast service capital programme outturn against £132m budget.

2.    That all Cabinet Members had confirmed their service’s forecast for the year as shown in the revenue table below was noted.

Reason for Decision:

This report was presented to comply with the agreed policy of providing a monthly budget monitoring report to Cabinet for approval of any necessary actions.

[The decisions on this item can be called in by the Corporate Overview Select Committee]

The Cabinet Member for Finance introduced a report that summarised the most significant issues for the Council’s 2018/19 financial position as at 31 January 2019 for revenue and capital budgets.  He praised all involved in driving savings forward.  The Deputy Leader commended the hard work undertaken by the Finance Team, the Executive Director of Finance and the Cabinet Member for Finance.  He went on to say that Members now had a true understanding of challenges faced next year.

RESOLVED:

1.         That the Council’s overall revenue and capital budget positions as at 31 January 2019 was noted:

·         £1.3m forecast total draw down reserves;

·         £20m forecast underspend against the original 2018/19 budget; and

·         £122m forecast service capital programme outturn against £132m budget.

2.    That all Cabinet Members had confirmed their service’s forecast for the year as shown in the revenue table below was noted.

Reason for Decision:

This report was presented to comply with the agreed policy of providing a monthly budget monitoring report to Cabinet for approval of any necessary actions.