Agenda item

(a)  That the latest financial forecast be noted.

(b)  That the budget virements as listed in paragraph 8 of the report be approved.

(c)  That the write offs requests as requested in paragraph 9 of the report be approved.

The Leader of the Council introduced a report that provided the Cabinet with an update on the Council’s latest revenue financial position to the end of July 2017 for the 2017-18 financial year.

The Council’s year to date budget for the period was £42.034m and expenditure £42.744, representing an overspend of £0.710m.  The most significant variances were in the Customer & Community Services Directorate.  The forecast overspend was £1.904m for 2017-18, however, the Leader emphasised that all service areas were expected to operate within their funding envelopes and undertake management actions to tackle in year pressures.  The Cabinet was also asked to approve a number of virement and write off requests as detailed in sections 8 and 9 of the report.

Speaking under Rule 30, Councillor Wright raised the issue of the temporary accommodation budget and asked whether it was expected that further pressures on this budget were likely later in the year.  It was noted that significant action was in place to seek to contain the temporary accommodation budget.

At the conclusion of the discussion, the latest revenue position was noted and the virement and write off requests were agreed.

Resolved –

(a)  That the latest financial forecast be noted.

(b)  That the budget virements as listed in paragraph 8 of the report be approved.

(c)  That the write offs requests as requested in paragraph 9 of the report be approved.