The report sets out the financial position for 2015/16 as at the end of September 2015. It sets out spend to date against the profiled budget and the forecast financial outturn.

1.      That the revenue forecast position which is currently to overspend budget by £0.6m (£1.3m in August, £1.1m over last year) be noted and directorates be requested to continue to take the necessary action to achieve a balanced budget.

2.      That the inclusion within the budget of £2.1m of contingency that is currently forecast to be used, be noted.  There is no call on this contingency at present.

The Executive considered a report from the Executive Member for Corporate Resources that presented the financial position for 2015/16 as at September 2015.  The forecast outturn position was £0.6m over budget mainly due to pressures within Social Care, Health and Housing and Children’s Services, offset by a forecast underspend in Community Services.

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

RESOLVED

1.      that the revenue forecast position which was currently to overspend budget by £0.6m (£1.3m in August, £1.1m over last year) be noted and directorates be requested to continue to take the necessary action to achieve a balanced budget; and

2.      that the inclusion within the budget of £2.1m of contingency that was currently forecast to be used, be noted.  There is no call on this contingency at present.