Decision Maker: Corporate Overview and Scrutiny Committee, Cabinet
Decision status: For Determination
Is Key decision?: No
Is subject to call in?: No
Cabinet considered a report on the Council’s forecast 2019/20 financial position as at the end of May 2019.
Not reporting on financial performance puts at risk the achievement of the Council’s Medium Term Financial Plan. Effective budget management is critical to ensuring financial resources are spent in line with the budget and are targeted towards the Council’s priorities. Monitoring enables the early identification of variations against the plan and facilitates timely corrective action.
It was AGREED:
1. That the forecast 2019/20 budget positions for Capital, Revenue, Savings and the Collection Fund as at the end of May 2019 be noted.
2. That the capital scheme changes shown in section 4.1.2 of the report be noted.
3. That approval be given to rephasing detailed in 4.1.3 of the report;
4. That the proposed virement detailed in 4.1.4 of the report be approved;
5. That the Revenue Budget Pressure Fund requests detailed in 4.2.4. of the report be approved
Reason for Decision
Cabinet is responsible for the effective management of the agreed budget and should be kept updated on the financial position of the authority, ensuring the financial resources are spent in line with the budget and are targeted towards the Council’s priorities. Monitoring enables the early identification of variations against the plan and facilitates timely corrective action.
Report author: Rose Bennett
Publication date: 26/02/2020
Date of decision: 30/07/2019
Decided at meeting: 30/07/2019 - Cabinet