Issue - meetings

Received a report from the Corporate Director of Resources on the position of the Council’s revenue, capital and Housing Revenue Account (HRA) budgets as at 31 August 2007.

Agreed, as a matter of good financial practice and to bring relevant budgets into line with agreed expenditure at the year end, to:

(i)  Note the current position of the Council’s revenue and capital budgets as set out in the report;

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

(iii)  The implementation by Corporate Directors of current and new action plans to ensure that projected overspends are addressed to enable the full delivery of balanced departmental budgets by the end of the 2007/08 financial year;

(iv)  An in-year budget adjustment of £3.5m to assist with the current position in the Children’s Services department on children’s placements and for children leaving care, to be funded from the Council’s corporate balances and reserves; and

(v)  Note that the base budget position for children’s placements will be a key consideration as part of the 2008/09 budget process.