Issue - meetings

This report presents details of the Council’s financial position for the period covering 1 April to 31 December 2014.

Resolved: That Cabinet agree to note the current financial position of the Council as set out in the report.

Reason:     To ensure expenditure is kept within the approved budget.

Members considered a report which provided details of the Council’s financial position for the period covering 1 April to 31 December 2014. The report assessed the main budget variations and any mitigating actions by Directorate, progress of the Corporate Budgets and the Housing Revenue Account and provided an update on the Section 106 balances and Delivery and Innovation Fund.

With the Council’s budget for 2014/15 at £124,186k forecasts indicated financial pressures of £771k, an improvement of £538k on the previous forecast. Details of the financial position in relation to individual directorates were reported at paragraphs 7 to 29 of the report. It was noted that the Council had made a total of £89.8m of savings between 2007/2016 and experienced a government grant reduction of £36.9m.

Resolved: That Cabinet agree to note the current financial position of the Council as set out in the report.

Reason:     To ensure expenditure is kept within the approved budget.