Update on the revenue spending against the agreed budget

Councillor Phil Davies introduced a report by the Interim Director of Resources that detailed the Monitoring Position for Month 1 (ended 30 April 2013).  Attached to the report were separate appendices for Revenue and Capital.

Councillor Phil Davies reported that it was essential to have a very robust monitoring process in place to ensure that the Council delivered its savings.  Throughout the financial year the Cabinet would receive monthly updates in respect of Revenue and Capital Monitoring and this was the first report for the 2013/14 financial year.

RESOLVED: That

Revenue

(1)  the monitoring position of a balanced position for revenue be noted and that this position is after funding of a Redundancy Reserve of up to £5.5 million;

Capital

(2)  the monitoring position for capital be noted; and

(3)  the revised capital programme as detailed in the capital monitoring appendix be agreed.