Decision details

Purpose of report: Provision of the latest forecast of the council's financial and performance position.

Members are asked to: to agree proposed amendments to plans, mitigation for identified issues and financial adjustements (such as allocations from contingency and virements) which are reserved to the Executive.

RESOLVED: (i)         That the performance issues identified in the report be noted.

REASON:      So that corrective action can be taken on these issues by Members and directorates.

                        (ii)        That the finance issues identified in the report be noted; in particular:

·        The significant pressures arising due to the economic recession and the social care costs that are still evident across the Council.

·        The requirement for growth as part of the 2010-11 Revenue Budget to build sufficient financial capacity for such areas.

·        The work already undertaken within directorates to contain financial pressures.

·        That work continues to identify and implement options to contain spending within budget by the end of the financial year.

REASON:      So that the Council’s expenditure can be contained within budget, where possible, by the end of the financial year.

                        (iii)       That approval be given for a virement of £124k from Learning Culture & Children’s Services to Treasury Management.

REASON:      In accordance with Financial Regulations and to enable appropriate financing of the Council’s capital programme.