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 period April to July of the 2008/09 financial year.

The position for revenue expenditure indicates that current budget pressures exist across four departments amounting to £6.7million. Overall this reflects a £700k reduction from the position reported in June. 

However the largest pressure continues to remain 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 31^st July 2008 (Appendix A and C, Sections 3 and 5 of the report)

(ii)  note the position and projected out-turn for the Housing Revenue Account (Appendix B and Section 4 of the report)

(iii)  note that where pressures 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 (section 3 of the report)