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 31 October 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 31 October, 2007;

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

(iii)  Note that Corporate Directors are continuing to identify and implement their current action plans to address projected overspends on departmental budgets to ensure full delivery of a balanced budget for the Council is achieved by the end of the financial year.