Decision details

The Council’s budget position for both revenue and capital needs to be monitored on a regular basis to ensure that there is control on the Council’s overall spend against its set budgets. The report will cover the details of spending and explanations for variances for each Department against these set budgets, and proposed action to achieve a balanced budget if required

The Executive will be asked to note the current position of the Council’s Revenue and Capital budget for 2007/08 and, if necessary, agree proposals to achieve a balanced budget at the year end 

Received a report from the Corporate Director of Resources providing an update on the Council’s revenue and capital position for 2007/08 as at the end of December 2007.

Agreed, in order to assist the Council to achieve all of its Community Priorities, to:

(i)  Note the current position of the Council’s revenue and capital budget as at 31 December 2007, as detailed in Appendices A and C to the report;

(ii)  Note the position and projected out-turn for the Housing Revenue Account, as detailed in Appendix B to the report;

(iii)  Note the action plans being undertaken to alleviate the budget pressures to ensure that the necessary balanced budget for the Council is achieved by the end of the financial year;

(iv)  Agree the re-profiling of individual capital schemes, as detailed in Appendix D to the report;

(v)  Note the Prudential Indicators for April to December 2007, as detailed in Appendix E to the report; and

(vi)  Note the financial Health indicators as detailed in Appendix F to the report.