Agenda item

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 early forecast of the 2019/20 revenue budget outturn as part of the Council’s continuous financial management process and informing Cabinet of the budget rebasing exercise carried out following the 2018/19 outturn results.

The submitted report stated that the latest projections following the budget rebasing exercise showed an overall improvement of £0.679m, which was primarily due to the rebasing exercise which returned £0.511 to general reserves, along with £0.168m of balances following the 2018/19 outturn underspend; the risk contingency established in the Medium Term Financial Plan (MTFP) for Children’s Services of £0.308m had been required and utilised; and that overall departmental expenditure, taking into account the rebasing exercise, was forecasting a break-even position.

RESOLVED – (a)  That the forecast revenue outturn for 2019/20, as detailed in the submitted report, be noted.

(b)  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.