Agenda item

The Cabinet considered the report of the Head of Corporate Resources in relation to:

1.             the current forecast revenue outturn position for the Council for 2019/20;

2.             the current forecast on Council Tax and Business Rates collection for 2019/20; and,

3.             the monitoring position of the Council’s capital programme to the end of October 2019, the forecast expenditure to year end, variations against the approved budgets and an explanation of those variations for consideration by Members. Updates to spending profiles and proposed amendments to capital budgets necessary to ensure the efficient delivery of capital projects are also presented for approval.

Decision Made: That the Cabinet:

(1)              note and approve the following in relation to the Revenue Budget;

(a)              note the current forecast revenue outturn position for 2019/20 and the current position relating to delivery of savings included in the 2019/20 revenue budget;

(b)              note the mitigating measures being used to ensure a balanced forecast outturn position, as detailed in paragraph 2.2 to the report, excluding a forecast for deficit on Housing Benefits which will be considered at the end of the financial year should it materialise;

(c)              approve the implementation of the mitigating actions identified in paragraph 2.10 to ensure a balanced forecast outturn position;

(d)              note the outcome of the review of earmarked reserves and the transfers to new reserves to fund the schemes outlined in section 6.5 to the report

(2)   note, review and approve the following in relation to the Capital                 Programme;

(a)              review updates to spending profiles across financial years as detailed   in paragraph 5.1.1 to the report;

(b)               review the new scheme added to the Capital Programme under delegated authority for 2019/20 as detailed in paragraph 5.1.3 to the report;

(c)              the latest capital expenditure position as at 31 October 2019 to date of £8.702m (paragraph 5.2.2) with the latest full year forecast being £25.214m (paragraph 5.3.1);

(d)              the explanations of variances to project budgets as detailed in paragraph 5.3.2 to the report; and

(e)              note that capital resources will be managed by the Head of Corporate Resources to ensure the capital programme remains fully funded and that capital funding arrangements secure the maximum financial benefit to the Council, as detailed in paragraph 5.5 to the report.