Agenda item

This report presents the financial monitoring information for the Authority as a whole for the financial year 2016/17 to the end of December 2016.

Councillor Charles Gerrish introduced the report by saying that this report had presented the financial monitoring information for the Authority as a whole for the financial year 2016/17 to the end of December 2016.  The report outlined the Council’s current financial position for the 2016/17 financial year to the end of December 2016 by Cabinet Portfolio. It also shown that the current forecast outturn position was an overspend of £1,039,000 or 0.37% of the gross expenditure budget (excluding Schools).  Strategic Directors would need to work towards managing within budget in the current year for their respective service areas, using action plans to achieve this, including not committing any unnecessary expenditure and stringent budgetary control.

The forecast outturn position included the requirement for the delivery of £12.644m savings as part of the approved budget for 2016/17, a significant element of which had been confirmed as delivered.

Councillor Charles Gerrish moved the recommendations.

Councillor Michael Evans seconded the motion by highlighting pressures within his Cabinet portfolio (Children Services) with forecast of £1,488,000 overspend, which was due to a number of pressures.

RESOLVED (unanimously) that the Cabinet agreed:

1.  Strategic Directors need to work towards managing within budget in the current year for their respective service areas, using action plans to achieve this, including not committing any unnecessary expenditure and stringent budgetary control.

2.  This year’s revenue budget position as shown in Appendix 2 is noted.

3.  The capital expenditure position for the Council in the financial year to the end of September and the year-end projections detailed in Appendix 3 are noted.

4.  The revenue virements listed for approval in Appendix 4(i) are agreed, and those listed for information are noted.

5.  The changes in the capital programme listed in Appendix 5(i) are noted.