Decision details

Received a report on the current position of the Council’s revenue and capital budgets for the period 1 April 2005 to 31 January 2006 and noted a verbal update from the Head of Corporate Finance on the interim year-end position.  The report also contained proposals for the reprofiling of a number of schemes within the 2005/06 Capital Programme and an increase in the annual Arts budget to support staffing and service developments.

Agreed, as a matter of good financial practice and to assist the Council to achieve its Community Priority of ‘Raising General Pride in the Borough’, to:

(i)  Note the current position of the Council’s revenue and capital budget as at 31 January 2006;

(ii)  Note that the Regeneration and Environment Management Board are to further review the departmental budgets to ensure a balanced position by the year end through a detailed action plan;

(iii)  Note the position and projected out-turn for the Housing Revenue Account;

(iv)  The reprofiling of capital programme schemes as identified in Appendix D to the report; and

(v)  A permanent budget transfer of £48,000 to the Arts service from central funds from 1 April 2006.