Decision details

Financial Monitoring 2013/2014 (Month 9)

Decision Maker: Cabinet

Decision status: For Determination

Is Key decision?: Yes

Is subject to call in?: No

Purpose:

Update on the revenue and capital spending against the agreed Budget

Decisions:

The Director of Resources set out the financial position for Month 9 (ended 31 December 2013) and provided in appendices to her report, separate monitoring reports for Revenue and Capital.

 

Resolved –

 

A  REVENUE

 

(1)  Cabinet notes that at Month 9 (December 2013), the full year forecast projects a gross General Fund under spend of £982,000, net £213,000. Cabinet previously agreed to earmark £519,000 of any forecast under spend against future Council restructuring costs and a further £250,000 to replenish General Fund Balances used for the clean up and repairs to infrastructure from December’s exceptional weather events. This would result in a net £213,000 available should the forecast be realised at the end of the financial year. This would be required to contribute further to the restructuring reserve or to assist in raising the level of General Fund Balances depending upon the requirement identified.

 

B  CAPITAL

 

(2)  Cabinet notes –

(a)  the spend to date at Month 9 of £17.9m, with 75% of the financial year having elapsed;

(b)  the agreed funding from Public Health of £0.484m

 

(3)  Cabinet agrees –

(a)  the revised Capital Programme of £36.7m;

(b)  the re-profiling of a number of schemes into 2014/2015, totalling £4.191m

Report author: Director of Resources

Publication date: 26/02/2014

Date of decision: 12/02/2014

Decided at meeting: 12/02/2014 - Cabinet

Accompanying Documents: