Decision details

The Cabinet will be asked to consider the projected position of the Council’s revenue and capital budgets for 2010/11 and if necessary consider proposals for in year adjustments aimed at achieving a balanced budget position at the year end

Received a report from the Cabinet Member for Finance, Revenues and Benefits on the Council’s revenue and capital position for 2010/11 as at the end of October 2010.

The projected service overspends, taking account of in-year savings, have decreased from £3.9m to £3.5m since the last report, the main reason being a reduction in the projected overspends in the Customer Services and Children’s Services departments.  The position for the Housing Revenue Account (HRA) has improved, with the projected deficit now at £37,000 compared to £302,000 last month and the Capital Programme is profiled to spend on target. 

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

(i)  Note the current projected outturn position for 2010/11 of the Council’s revenue and capital budget as detailed in paragraphs 3 and 5 and Appendices A and C of the report;

(ii)  Note the position for the HRA as detailed in paragraph 4 and Appendix B of the report; and

(iii)  Note the position of the Contingency Fund as detailed in paragraph 3.1.5 of the report.