Cabinet resolved to:
(i) Note the projected outturn position for 2015/16 of the Council’s General Fund revenue budget at 31 May 2015, as detailed in paragraphs 2.1, 2.4 to 2.10 and Appendix A of the report;
(ii) Note the progress against the agreed 2015/16 savings at 31 May 2015, as detailed in paragraph 2.11 and Appendix B of the report;
(iii) Note the overall position of the HRA at 31 May 2015, as detailed in paragraph 2.12 and Appendix C of the report;
(iv) Note the projected outturn position for 2015/16 of the Council’s capital budget at 31 May 2015, as detailed in paragraph 2.13 and Appendix D of the report;
(v) Approve the following budget transfers totalling £2.9m from Central Expenses to support the increased in-year demographic demand pressures within the Children’s Services directorate (£1.2m) and the identified shortfalls in respect of the centralisation of Learning and Development and Marketing budgets (£1.1m) and the abandoning of proposals for further shared services with Thurrock Council (£0.6m), as detailed in paragraph 2.11 of the report:
Existing Budget £’000
· Pension Contribution 1,300
· Redundancy Costs 500
· Welfare Reform Bad Debt provision 500
· Thurrock Shared Services budget 300
· Legacy Contingency budget 300
Total 2,900
(vi) Approve a loan of £0.9m from the Dedicated Schools Grant reserve to cover the cumulative deficit at Eastbury Primary School, on the terms set out in paragraph 2.6 of the report.