Decision details

The Executive will be presented with the current position of the Council’s revenue and capital budgets for 2008/09 and, if necessary, be asked to consider in-year adjustments to the budgets and other 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 period April to November of the 2008/09 financial year.

The position for revenue expenditure indicates that current budget pressures exist across four departments amounting to £2.9million which are offset by projected underspends in one other department. Overall this reflects a £700k reduction from the position reported in October. 

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

(i)  note the current position of the Council’s revenue and capital budget as at 30 November 2008;

(ii)  note the position and projected out-turn for the Housing Revenue account; and

(iii)  note that where pressures and targets exist, Directors are required to identify and implement the necessary action plans to alleviate these budget pressures to ensure that the necessary balanced budget for the Council is achieved by year end.