Issue - decisions

Revenue Monitoring 2012/13 Month 6 (September 2012)

15/11/2012 - Revenue Monitoring 2012/13 Month 6 (September 2012)

A report by the Interim Director of Finance continued the new format and set out the revenue position for 2012/13 as at Month 6 (September 2012).  The report identified the latest financial projections and prioritised the risks for ongoing management actions, to ensure the year-end position would result in spend remaining within the budget allocated.


Attached to the report were the following Appendices for the Cabinet’s consideration:


·  Appendix 1  Revenue Monitoring and Reporting Timetable 2012/13.

·  Appendix 2  General Fund Revenue Budget for 2012/13 agreed by the Council.

·  Appendix 3  Changes to the Budget 2012/13 since it was set.

·  Appendix 4  Management actions.

·  Appendix 5  Progress on delivering agreed savings 2012/13.

·  Appendix 6  Earmarked Reserves – General Fund.

·  Appendix 7 Freeze outcomes, weeks 3 – 6.


Councillor Phil Davies considered that the approach that had been adopted was positive and noted that the General Fund overspend was now down to £13.2m which was down £2.1m on the M5 projection of a £15.3m overspend.  In a number of areas there were sizable overspends and this was partly due to increased demand.


Councillor Phil Davies welcomed the improvements made in relation to the budget setting process to ensure savings were delivered.  He was of the view that the Council was continuing to move in the right direction but was keeping the pressure on to stop overspending and to obtain value for money




(1)  the Cabinet notes that


(a)  at Month 6 (September 2012), the full year forecast projected a potential General Fund overspend is £13.2m; and


(b)  a review of over/under spends and Earmarked Reserves has been undertaken and will be reported to a future Cabinet meeting;


(2)  the Cabinet agrees the rejected freeze items, set out at Appendix 7 to the report, in the columns ‘Rejected’, totalling £1,292,229, as evidenced at paragraph 2.20 of the report.