Agenda item

The Assistant Director Finance & Audit, Mr Wilcox, introduced a report that provided an update on the Council’s latest revenue financial position as at the end of July for the 2017-18 financial year.

The Council’s profiled budget for the period was £42.0m and expenditure was £42.7m representing an overspend of £0.7m.  Based on the latest service area forecasts, the Council was projected to overspend its General Fund Revenue Budget by £1.904m in 2017/18, although service areas were expected to operate within their funding envelopes and management action was being taken to address in year pressures.  The main areas of overspend included temporary accommodation, arvato transactional services contract, SEN transport and Early Years.

Members discussed a number of specific areas of the report including the use one off income from Slough Urban Renewal to support the 2017/18 revenue budget and the virements between Council departments as set out in the report.  At the conclusion of the discussion the report was noted.

Resolved –

(a)  That the latest financial position be noted.

(b)  That the budget virements as detailed in the report be noted.

(c)  That the write offs as detailed in the report be noted