Received a report from the Cabinet Member for Finance, Revenues and Benefits on the Council’s revenue and capital position for 2010/11 as at the end of October 2010.
The projected service overspends, taking account of in-year savings, have decreased from £3.9m to £3.5m since the last report, the main reason being a reduction in the projected overspends in the Customer Services and Children’s Services departments. The position for the Housing Revenue Account (HRA) has improved, with the projected deficit now at £37,000 compared to £302,000 last month and the Capital Programme is profiled to spend on target.
Agreed, as a matter of good financial practice, to:-
(i) Note the current projected outturn position for 2010/11 of the Council’s revenue and capital budget as detailed in paragraphs 3 and 5 and Appendices A and C of the report;
(ii) Note the position for the HRA as detailed in paragraph 4 and Appendix B of the report; and
(iii) Note the position of the Contingency Fund as detailed in paragraph 3.1.5 of the report.