1.      To note that the approved budget, excluding HRA, but including deferred spend from 2015/16 (approved by Executive in June 2016) is £124.6M (gross).  The gross forecast is below budget by £11.8M (£11.0M last year against a higher budget of £139.2M).  The net forecast is £5.1M over budget due to less forecast grant receipts than budgeted.

2.      To note that action to reduce the net forecast overspend is currently being reviewed.