Agenda item

Revenue Budget Monitoring 2018/19 - Quarter 3

Report of the Managing Director


The Cabinet Member with the Efficiency and Resources Portfolio introduced the report of the Managing Director (previously circulated) providing an up-to-date forecast of the 2018/19 revenue budget outturn as part of the Council’s continuous financial management process.


The submitted report stated that the latest projections showed an overall improvement against the Medium Term Financial Plan (MTFP) of £2.689m, an increase of £1.573m from the position reported at Quarter 2; Adult Services had reported an improvement of £1.193m; Corporately Managed Resources showed a £0.653m positive movement; and that the projected balances at 31 March 2019 showed an increase to £18.179m which would be reflected in the revised MTFP to Cabinet and Council in February.


RESOLVED – (a) That the forecast revenue outturn for 2018/19, as detailed in the submitted report, be noted.


(b) That the proposed carry forward of resources referred to in paragraphs 14 to 19 of the submitted report, be noted and approved.


(c) That further regular reports be made to monitor progress and take prompt action if necessary.


REASONS – (a) To continue effective management of resources.


(b) To continue to deliver services to agreed levels.


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