Issue - meetings
Quarter 2 2017/18 Revenue Budget Monitoring
Meeting: 05/12/2017 - EXECUTIVE (Item 85)
85 Revenue Budget Monitoring Provisional Forecast Outturn September 2017 (Quarter 2) PDF 22 KB
The report sets out the forecast outturn financial position for 2017/18 as at the end of September 2017.
Additional documents:
- Appendix A - Revenue Budget Monitoring - Quarter 2, item 85 PDF 215 KB
- Appendix B - Revenue Budget Monitoring - Quarter 2, item 85 PDF 87 KB
- Appendix C - Revenue Budget Monitoring - Quarter 2, item 85 PDF 38 KB
- Appendix D - Revenue Budget Monitoring - Quarter 2, item 85 PDF 111 KB
Decision:
1. That the forecast revenue outturn position which is currently to overspend budget by £3.3M (over budget by £0.6M in September 2016) be noted.
2. To note that the budget includes £2.1M of contingency costs against which no call has yet been made. If this contingency is released then this results in an overspend of £1.275M.
3. That officers be requested to continue to look for compensatory savings in order to deliver a balanced budget.
Minutes:
The Executive considered a report from the Deputy Leader and Executive Member for Corporate Resources that set out the projected outturn financial position for 2017/18 as at September 2017. The revenue forecast outturn position was £3.3m over budget. The year to date spend was £0.6m over budget.
Reason for decision: To maintain rigour and transparency through the Executive’s regular public monitoring of the revenue budget.
RESOLVED
1. that the forecast revenue outturn position which was currently to overspend budget by £3.3M (over budget by £0.6M in September 2016) be noted;
2. to note that the budget included £2.1M of contingency costs against which no call had yet been made. If this contingency was released then this would result in an overspend of £1.275M; and
3. that officers be requested to continue to look for compensatory savings in order to deliver a balanced budget.