Decision details

Received a report detailing the Council’s revenue and capital position from the beginning of April to the end of May 2006/07.

The position for revenue expenditure indicates that currently budget pressures exist across all four main service departments. These pressures will be addressed as part of the Council’s ongoing budget monitoring process and departments are currently preparing the necessary action plans to ensure that the Council meets its overall budget for the year and produces the necessary balanced budget by the year end.

Agreed, that as a matter of good financial practise, to:

1)  Note the current position of the Council’s revenue and capital budget;

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

3)  Note that departments are preparing the necessary action plans where budget pressures exist.  These will be reported back regularly to the Executive in future Budget Monitoring reports to ensure that the Council meets its approved budget and the necessary balanced budget for the Council is achieved by year end;

4)  Approve the use in 2006/07 of the financial provision made in the HRA to fund Private Finance Initiative (PFI) consultants costs in order to bring the Council’s Housing Stock up to Decent Homes standard as per the Housing Futures Financial Model for the PFI.