Issue - meetings

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 icon PDF 22 KB

 

The report sets out the forecast outturn financial position for 2017/18 as at the end of September 2017.

Additional documents:

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.