A report by the Interim Director of Resources detailed the Monitoring position for Month 5 (ending 31 August 2013). Attached to the report were separate appendices for Revenue and Capital.

The Leader was heartened by the forecast underspend in both reports. He commented upon the importance to monitor those savings agreed in the previous budget and to ensure these were delivered. It was important to continue the spending freeze because of the savings to be delivered this year. 

RESOLVED: That

Revenue

(1)  the monitoring position of a forecast under spend of £320,000 for month 5 be noted;

(2)  the spending freeze be continued until further notice to aid continued good financial management  and it be noted that there are no rejected freeze items in the month; and

Capital

(3)  the spend to date at Month 5 of £9.518m, with 42.0% of the financial year having elapsed be noted.