Issue - meetings

The Cabinet Member for Finance, Performance and Core Services presented a report on the Council’s revenue and capital budget monitoring position for the 2019/20 financial year as at 31 January 2020 (Month 10).

The underlying General Fund position had improved from the previous month, with a projected end of year overspend of £6.743m against the budget of £158.677m which reflected the improvements in Care and Support, Public Realm and Central Expenses as well as a small increase in forecasted income.  The Cabinet Member explained that the total overspend could be covered from the Budget Support reserve with no further impact on the unearmarked General Fund reserve.

The Leader placed on record thanks to all staff for their support and efforts in trying to keep the budgets on track despite the difficult financial situation.

Cabinet resolved to:

(i)  Note the projected revenue outturn for Council services as set out in sections 2 to 12 and Appendix A to the report; and

(ii)   Note the implications for the reserves position and the need to identify in-year action in relation to General Fund expenditure.