Financial Monitoring 2013/14 (Month 8)
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Update on the revenue and capital spending against the agreed Budget
The Leader of the Council introduced a report by the Director of Resources which detailed the Monitoring position for Month 8 (ending 30 November 2013). Attached to the report were separate appendices for Revenue and Capital. He highlighted the encouraging news of the projected general fund under spend of £884,000 and that a portion of this money had been earmarked for future Council restructuring costs.
(1) Cabinet notes at Month 8 (November 2013), the full year forecast projects a General Fund under spend of £884,000. Cabinet previously agreed for the earmarking of the M7 £519,000 forecast underspend against future Council restructuring costs;
(2) the use of up to £250,000 General Fund Balances to fund additional costs to the Council of the clean up and repairs to infrastructure from the recent exceptional weather events, as outlined in paragraph 6.3 of Appendix A, and the appropriate replenishment of General Fund Balances from any increased forecast underspend, be agreed, and;
(1) the spend to date at Month 8 of £16.1 million, with 66.6% of the financial year having elapsed, be noted;
(2) (a) the revised Capital Programme of £40.7 million (Table 1 at paragraph 4.1) be agreed
(b) the re-profiling of a number of schemes into 2014-15, totalling £2.955 million, be agreed.
Publication date: 21/01/2014
Date of decision: 16/01/2014
Decided at meeting: 16/01/2014 - Cabinet
Effective from: 29/01/2014