Issue - meetings

RESOLVED:

That the following be noted;

1.    the Council’s overall revenue and capital budget positions as at 31 March 2019:

·         £21.8m underspend against the original 2018/19 budget;

·         Contributions to Reserves of £0.5m and those set out in paragraphs 3, 8 and 12 to 14 of the submitted report;

·         Use of £14.4m capital receipts in-year to support transformation; and

·         £117m service capital expenditure against £139m budget

That the following be approved;

2.    The carry forward of revenue budget underspends of £0.3m, in addition to the £4.1m approved at Month 11.

3.    The carry forward of capital budget underspends of £19.5m.

Reason for Decision:

This report is 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 highlighted various aspects of this report stating that it was a reflection of a balanced budget without the need for the use of reserves and that a further £0.5m had been moved to reserves. He also explained that the Council was half way through its transformation process and that whilst £106m of savings had been made there was still a further £100m of savings to find and future funding was uncertain.

The Leader thanked officers and Cabinet for the hard work put in to get to this position.

RESOLVED:

That the following be noted;

1.    The Council’s overall revenue and capital budget positions as at 31 March 2019:

• £21.8m underspend against the original 2018/19 budget;
• Contributions to Reserves of £0.5m and those set out in paragraphs 3, 8 and 12 to 14 of the submitted report;
• Use of £14.4m capital receipts in-year to support transformation; and
• £117m service capital expenditure against £139m budget

That the following be approved;

2.    The carry forward of revenue budget underspends of £0.3m, in addition to the £4.1m approved at Month 11.

3.    The carry forward of capital budget underspends of £19.5m.

Reason for Decision:

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

The decision was unanimous.