The report sets out the financial position for 2015/16 as at the end of June 2015.

1.      That the Revenue forecast position which is currently to overspend budget by £2.5M be noted.

2.      To request officers to continue to look for compensatory savings in order to deliver a balanced budget.

The Executive considered a report from the Executive Member for Corporate Resources that set out the projected financial outturn position for 2015/16.  The full year forecast outturn position was an overspend of £2.5m.  This was mainly as a result of emerging pressures in Social Care, Health and Housing and Children’s Services.  Officers were exploring mitigating actions.

Reason for decision:  To facilitate effective financial management and planning.

RESOLVED

1.      that the Revenue forecast position which is currently to overspend budget by £2.5m be noted; and

2.      to request officers to continue to look for compensatory savings in order to deliver a balanced budget.