RESOLVED:
That the following be noted:
1. The Council’s overall revenue and capital budget positions as at 28 February 2019:
· £0.4m forecast draw down from reserves; following the successful drive to reduce costs by £106m during this financial year
· £20.8m forecast underspend against the original 2018/19 budget; and
· £118m forecast service capital programme outturn against £137m 2018/19 budget.
That the following be approved, in principle, subject to confirmation in the Year-End report to be presented to the Cabinet in May 2019:
2. The carry forward of £4.1m of revenue budget into the 2019/20 financial year.
3. All Cabinet Members had confirmed their service’s forecast for the year.
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]