Decision details

The Executive will be asked to consider the regular budget monitoring reports any changed proposals to relevant action plans change in use of budgets additional budget expenditure and the Councils in year financial performance

Received a report from the Corporate Director of Finance and Commercial Services providing an update on the Council’s revenue and capital position for the 2009/10 financial year as projected at 30 September 2009.

The current forecast for revenue expenditure across the Council shows in-year pressures amounting to £3.227m, which represents an improved forecast position to that contained within the budget report for the period to end of August 2009 but would still place a considerable burden on the Council’s General Fund balances in the event that departmental recovery plans failed to achieve the necessary savings.

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

(i)  note the current projected position for 31 March 2010 of the Council’s revenue and capital budget as detailed in sections 3 and 5 and Appendices A and B of the report;

(ii)  note the position for the HRA as detailed in section 4 of the report;

(iii)  note that in light of the current potential overspend, the Chief Executive has asked each department to implement, as a matter of urgency, recovery plans to eliminate these overspends;

(iv)  note the 2009/10 prudential indicators as at 30 September 2009 as detailed in section 6 and Appendix C of the report; and

(v)  note the first quarter financial health indicators as detailed in section 7 and Appendix D of the report.