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 September of the 2008/09 financial year.
The position for revenue expenditure indicates that current budget pressures exist across three departments amounting to £4.5million. Overall this reflects a £1.8m reduction from the position reported in August.
However the largest pressure continues to remain within the Children’s Services department where significant budget pressures continue to arise from Looked after Children Placements and in meeting the Councils’ Leaving Care responsibilities. In order to achieve a balanced budget by the year end, all departments are now addressing both their own pressures and the approved action plan agreed by Minute 68 2008/09.
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 30 September 2008;
(ii) note the position and projected out-turn for the Housing Revenue account;
(iii) note that where pressures and targets exist, Directors are required to identify and implement the necessary action plans to alleviate these budget pressures to ensure that the necessary balanced budget for the Council is achieved by year end
(iv) the re-profiling of individual capital schemes as set out in appendix D to the report;
(v) note the prudential indicators for April to September 2008; and
(vi) note the second quarter financial health indicators.