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 2008/09 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 the first three months of the 2008/09 financial year.

The position for revenue expenditure indicates that current budget pressures exist across four departments amounting to £7.4m. The largest pressure is within the Children’s Services department where significant budget pressures continue to arise from Looked After Children placements and in meeting the Councils’ Leaving Care responsibilities.

Agreed, in order to assist the Council to achieve all of its Community Priorities and as a matter of good financial practise, to:

(i)  Note the current position of the Council’s revenue and capital budget as at 30 June 2008 as detailed in the report; (Appendix A and C, Sections 3 and 5)

(ii)  Note the position and projected out-turn for the Housing Revenue Account as detailed in the report; ( Appendix B and Section 4)  and

(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)  Hold an additional meeting of the Executive and Corporate Management Team in early September to consider the reasons for the increased budgetary pressures Children’s Services Department is facing.