Issue - meetings

Report of the Deputy Chief Executive for Resources and Transformation (Section 151 Officer) attached.

RESOLVED (Unanimously)

That:

1.    Cabinet notes the projected Revenue financial monitoring position for 2018/19 as at 31 December 2018, including the management actions taken to deliver the savings and achieve the projected surplus.

2.    Cabinet notes the proposed drawdown of reserves of £170,000 to cover associated expenditure for which the reserves were created.

3.    Cabinet notes the projected Capital monitoring position for 2018/19 as at 31 December 2018 including the revised spend outturn, revised funding mechanisms and carry over into 2019/20.

4.    Cabinet grants approval for up to £100,000 of the surplus to be used to carry out additional environmental works across the Borough to enhance existing green links programmes.

Councillor Susan Snape, Cabinet Member (Finance) presented a report of the Deputy Chief Executive for Resources and Transformation (Section 151 Officer) advising Members of the revenue and capital financial position of the Council for the third quarter period ending 31 December 2018 as required under its statutory duty.

It was proposed by Councillor Susan Snape, seconded by Councillor Colin Clark and

Decision made (Unanimously)

That:

1.    Cabinet notes the projected Revenue financial monitoring position for 2018/19 as at 31 December 2018, including the management actions taken to deliver the savings and achieve the projected surplus.

2.    Cabinet notes the proposed drawdown of reserves of £170,000 to cover associated expenditure for which the reserves were created.

3.    Cabinet notes the projected Capital monitoring position for 2018/19 as at 31 December 2018 including the revised spend outturn, revised funding mechanisms and carry over into 2019/20.

4.    Cabinet grants approval for up to £100,000 of the surplus to be used to carry out additional environmental works across the Borough to enhance existing green links programmes.

Reason(s) for the decision:

Council to note the projected financial position of the council reported by the Deputy Chief Executive for Resources and Transformation (Section 151 Officer. It also notes the actions taken to ensure that the overall targets set in the prior year’s budget decisions have been implemented to the full.

Alternative Options Considered and Rejected:

Not to take appropriate management action to ensure the budget remains within forecasts resulting in over spends which is contrary to our statutory duty.