Issue - meetings

Received a report from the Corporate Director of Finance and Commercial Services providing an update on the Council’s revenue and capital position for the 2009/10 financial year as projected at 30 September 2009.

The current forecast for revenue expenditure across the Council shows in-year pressures amounting to £3.227m, which represents an improved forecast position to that contained within the budget report for the period to end of August 2009 but would still place a considerable burden on the Council’s General Fund balances in the event that departmental recovery plans failed to achieve the necessary savings.

Agreed, as a matter of good financial practise, to:

(i)  note the current projected position for 31 March 2010 of the Council’s revenue and capital budget as detailed in sections 3 and 5 and Appendices A and B of the report;

(ii)  note the position for the HRA as detailed in section 4 of the report;

(iii)  note that in light of the current potential overspend, the Chief Executive has asked each department to implement, as a matter of urgency, recovery plans to eliminate these overspends;

(iv)  note the 2009/10 prudential indicators as at 30 September 2009 as detailed in section 6 and Appendix C of the report; and

(v)  note the first quarter financial health indicators as detailed in section 7 and Appendix D of the report.