Issue - meetings

This report provides details of the headline financial performance issues for 2013-14, covering the period 1 April 2013 to 31 December 2013.  The report assesses performance against budgets, progress on the council’s savings programme, the council’s revenue and reserves and provides an update on localisation of business rates.

Resolved:  That Cabinet note the current projected pressures of £1,937k and that strategies are being prepared to mitigate this position.

Reason:     In order to ensure expenditure is kept within budget.

Members considered a report which provided details of the headline financial performance issues for 2013/14, covering the period 1 April 2013 to 31 December 2013. The report assessed performance against budgets, progress of the Council’s savings programme, the Council’s revenue reserves and provided an update on the localisation of business rates.

With the Council’s net General Fund budget for 2013/14 at £127,778k forecasts indicated financial pressures of £1,937k an improvement of £1,427k on the previous forecast. Details of the financial position in relation to individual directorates were reported at paragraphs 2 to 23 of the report. The anticipated year end balance of the General Rate Fund reserve was reported as £6.8m with commitments from the Delivery and Innovation Fund set out in the table at paragraph 32, showing £306k unallocated.

Members referred to improvements made since the last Monitor and to continuing in year pressures across Directorates however it was still felt that the authority would come in within budget.

Resolved:  That Cabinet note the current projected pressures of £1,937k and that strategies are being prepared to mitigate this position.

Reason:     In order to ensure expenditure is kept within budget.