Decision details

The Cabinet considered the report of the Head of Finance and ICT which provided an update of the progress in the achievement of the approved savings for 2013 - 2015, and other risks within the 2013/14 budget; and a forecast of the collection rates for Council Tax and Business Rates in 2013/14.

Decision Made:

That:

(1)       the progress to date on the achievement of approved savings for 2013/2014 be noted;

(2)       the potential impact on the Council general balances in 2013/2014 should other savings not be achieved elsewhere in the budget, to bridge the current budget gap be noted;

(3)       The wider budget pressures being experienced in the remainder of the Budget be noted; and

(4)       The forecast position on the collection rates of Council Tax and Business Rates be noted;

Reasons for Decision:

To ensure Cabinet are informed of the latest position on the achievement of savings for the current financial year and to facilitate the achievement of the savings targets for 2014/2015.

To identify wider budget pressures being experienced elsewhere in the Budget and to provide an update on the forecast outturn position on collection of Council Tax and Business Rates.

Alternative Options Considered and Rejected:

None: