Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
This report provides revenue and capital forecasts and explanations which have been discussed and agreed with budget managers and portfolio holders and accords with the Council’s Policy and Budget Framework and supports the development of an effective and efficient Council.
1. The forecast net revenue expenditure in 2018/19, before net transfers from reserves, is forecast to be £235,300 lower than the latest budget. Options for dealing with any outturn surpluses will be considered in the Q3 Revenue and Capital monitoring report.
2. Capital expenditure in 2018/19 is forecast to be £1.703 million lower than the latest budget and that this variation will be dealt with in the 2019/20 budget report by re-phasing relevant capital scheme budgets.
3. There are a number of risks to revenue and capital forecasts as detailed in sections 8 and 10 of the report.
4. An income budget virement of £300,300 from additional Industrial and Commercial rental income to fund increased Property Services business unit costs.
5. A revenue budget carry forward of £25,000 for Social Inclusion Programme works as outlined in section 4 of the report.
Publication date: 05/12/2018
Date of decision: 04/12/2018
Decided at meeting: 04/12/2018 - Cabinet
Effective from: 12/12/2018