Decision details

The Cabinet will be asked to consider the projected position of the Council’s revenue and capital budgets for 2017/18 and, if necessary, consider proposals for in-year adjustments aimed at achieving a balanced budget position at the year end.

The Cabinet resolved to:

(i)   Note the forecast outturn position for 2017/18 of the Council’s General Fund revenue budget at 30 September 2017, as detailed in section 2 and Appendix A of the report;

(ii)  Note the new financial pressures and the suggested mechanisms for resolving them, as detailed in section 3 of the report; 

(iii)   Note the overview of the Housing Revenue Account for 2017/18, as detailed in section 4 and Appendix B of the report;

(iv)  Approve the following additions to the Capital Programme;

·  Land Acquisitions - £10m

·  Becontree Heath New Build - £5.7m

·  Street Property Purchase Programme - £30m

(v)  Approve the inclusion of £1.48m in the 2017/18 Capital Programme for a number of data related IT projects, as outlined in paragraph 5.3 of the report;

(vi)   Note the reprofiled Capital Programme position for 2017/18 as detailed in Appendix C to the report;

(vii)  Approve the capital budgets for 2018/19 and future years, as set out in Appendix D to the report; and

(viii)  Note the update on the Medium Term Financial Strategy savings, as detailed in section 6 and Appendix E of the report.