Agenda item

RESOLVED that;

1.    the potential outturn position based on the first nine months of the financial year be noted.

2.   the requirement for all directorates currently reporting overspends as identified in this report to take actions to reduce their projected overspends be reinforced.

The Cabinet received an update on the financial monitoring position for the authority based on the first nine months of the financial year.   It was reported that the month nine revenue monitoring for the Council shows a balanced position which is in line with the position reported at month six.  There have however been changes within the overall position including an increase in the overspend on directorate budgets as a result of further pressures on the Children’s Services budgets within Social Services, an increase in the projection for capital financing costs and a reduced surplus on Council Tax collection. These have been offset by a further increase in NDR refunds on Council properties and by an increase in the projected saving on insurance budgets in the current year.

RESOLVED that;

1.    the potential outturn position based on the first nine months of the financial year be noted.

2.   the requirement for all directorates currently reporting overspends as identified in this report to take actions to reduce their projected overspends be reinforced.