The report sets out the forecast outturn financial position for 2018/19 as at the end of September 2018.

1.      That the revenue forecast outturn position of an overspend of £1.6M (before the release of the contingency), 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 £0.5M.

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 outturn position as at September 2018.

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

RESOLVED

1.      that the revenue forecast outturn position of an overspend of £1.6M (before the release of the contingency), 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 £0.5M; and

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