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 January of the 2008/09 financial year.
The position for revenue expenditure indicates that current budget pressures amount to £2.5million. The largest pressure continues to remain within the Children’s Services department (£3million) and Regeneration Services (87k) which are offset by projected under spends in Resources (400k) and Customer Services (£242k).
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 31 January 2009;
(ii) note that where pressures and targets exist, Directors continue 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;
(iii) note the position and projected out-turn for the Housing Revenue account; and
(iv) the re-profiling of individual capital schemes as identified in Appendix D of the report.