To receive the 2018/19 quarter 1 revenue budget monitoring report.

1.      That the revenue forecast outturn position of an overspend of £0.8M, be noted.

2.      To note that the budget includes £2.1M of contingency against which no call has been made as yet.  If this contingency is released then this results in an underspend of £1.3M.

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

The Executive considered a report from the Deputy Leader and Executive Member for Corporate Resources that set out the forecast revenue outturn position for Quarter 1 in 2018/19.  The forecast position was an overspend of £0.8m.

Reason for decision:  To maintain rigour and transparency through the Executive’s regular monitoring of the revenue budget.

RESOLVED

1.      that the revenue forecast outturn position of an overspend of £0.8M, be noted;

2.      to note that the budget includes £2.1M of contingency against which no call has been made as yet.  If this contingency was released then this results in an underspend of £1.3M; and

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

The decision was unanimous.