Issue - meetings

RESOLVED:

1.       That Local Learners Fund expenditure of £0.6m funded from the 2018/19 Schools and Early Years block Dedicated Schools Grant carry forward be approved;

2.    That the transfer of the balance of the contingency to reserves (£8.9m) to support future revenue budgets be approved;

3.    That the re-profiled 2019/20 capital budget of £120.3m be approved; 

4.    That the Council’s forecast revenue and capital budget positions for the year be noted.

Reason for decision:

This report complied 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 Resources and Performance Select Committee]

The Cabinet Member for Finance introduced a report that detailed the Council’s 2019/20 financial position as at 31 October 2019 (M7) for revenue and capital budgets, the expected outlook for the remainder of the financial year and also as a quarter-end report.  He explained that the overall position was improving but pressures continued with adult social care and special education needs & disabilities funding.  He complimented all the work undertaken to get the savings achieved so far.

The Leader spoke of the effort by Members and officers to get to the point of being able to speak of a balanced budget.  The full budget was due in January and this would build on work done over the last year.

RESOLVED:

1.       That Local Learners Fund expenditure of £0.6m funded from the 2018/19 Schools and Early Years block Dedicated Schools Grant carry forward be approved;

2.    That the transfer of the balance of the contingency to reserves (£8.9m) to support future revenue budgets be approved;

3.    That the re-profiled 2019/20 capital budget of £120.3m be approved; and

4.    That the Council’s forecast revenue and capital budget positions for the year be noted.

Reason for decision:

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