Issue - meetings

To consider the Council’s financial performance and to consider new budget requirements for recommendation to the Council for approval.

RESOLVED:

That the latest budget forecasts for the General Fund, Capital Programme and Housing Revenue Account as set out in paragraphs 3.2, 4.2 and 5.1 of Report Item 7 considered by the Cabinet be noted; and

RECOMMENDED:

That the new budget requirements set out in sections 3.5 and 4.3 of Report Item 7 considered by the Cabinet be approved.

The Cabinet was advised of the Council’s financial performance to October 2016.

Further positive variations of £1.061 million had been identified against the General Fund budget, together with new budget requirements of £279,000.  Further details were set out in Section 3 of the report.  The estimated outturn on the General Fund was now £15.756 million.  Once again there were significant elements of rephasing projects into future years, which would affect future year’s budgets.

A combination of additional budget requirements of £100,000 and the rephasing of £2.95 million to future years had reduced the Capital Programme to £21,343 million, as set out in Section 4 of the report.

The Housing Revenue Account currently showed a variation of £1.9 million, largely as a result of delays in the major repairs programme under the Capital Programme, which was financed from the revenue account.  Further details of the variations were set out in Section 5 of the report.

RESOLVED:

That the latest budget forecasts for the General Fund, Capital Programme and Housing Revenue Account as set out in paragraphs 3.2, 4.2 and 5.1 of Report Item 7 considered by the Cabinet be noted; and

RECOMMENDED:

That the new budget requirements set out in sections 3.5 and 4.3 of Report Item 7 considered by the Cabinet be approved.