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 on the Council’s revenue and capital position for the period 1 April to 30 September 2007.

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

(i)  Note the current position of the Council’s revenue and capital budget as at 30 September 2007;

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

(iii)  Note the action plans produced to alleviate the budget pressure to ensure that the necessary balanced budget for the Council is achieved by year end;

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

(v)  Note the six month update of the Local Land Charges service;

(vi)  Note the prudential and financial health indicators as at the end September 2007.