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 Resources providing an update on the Council’s revenue and capital position for the first two months of the 2009/10 financial year.

The current position for revenue expenditure indicates a potential £400k overspend in Children’s Services due to providing transport services for children with Special Educational Needs (SEN). Other departments are also identifying areas of concern where budget pressures may arise and these are being addressed by the relevant Corporate Director and as part of the Council’s ongoing budget monitoring process.

Arising from the discussion, asked that officers provide further information on the reasons for the increase in transport costs and concerns were raised with regards to items which have been added in year to the capital programme.

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 31 May 2009;

  (ii)  Note the position for the Housing Revenue Account; and

  (iii)  Note that where potential pressures have been highlighted, Corporate Directors are required to identify and implement the necessary action plans to mitigate these budget pressures to ensure that the necessary balanced budget for the Council is achieved by year end; and

  (iv)  the additional budget of £192k for demolishing the properties known as 16-18 and 20 Cambridge Road and The Lawns. The cost of these works will initially be funded from the Council’s internal capital and borrowing resources, which will then be offset by both the revenue savings and future capital receipts arising from the disposals.