Decision details

The Executive will be presented with the current position of the Council’s revenue and capital budgets for 2008/09 and, if necessary, be asked to consider in-year adjustments to the budgets and other 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 February of the 2008/09 financial year.

The position for revenue expenditure indicates that current budget pressures amount to £2.8million. The largest pressure continues to remain within the Children’s Services department (£3.4million) and Regeneration Services (318k) which are offset by projected under spends in Resources (400k), Adults and Community Services (70k) and Customer Services (£489k).

The current forecast is that at year end the revenue budget will have a net overspend of approximately (£780k). 

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 28 February 2009;

  (ii)  note that where pressures and targets exist, Directors continue to identify and implement the necessary action plans to alleviate these budget pressures;

  (iii)  note the position and projected out-turn for the Housing Revenue account; and

  (iv)  the budget approval of the capital scheme.