Agenda item

The Cabinet Member with the Efficiency and Resources Portfolio introduced the report of the Managing Director (previously circulated) providing an early forecast of the 2018/19 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 2017/18 outturn results.

The submitted report stated that this was the first revenue budget management report to Cabinet for 2018/19; the latest projections following a rebasing exercised showed an overall improvement of £0.955M, which was due to £0.530M of balances carried forward from 2017/18 and the rebasing exercise, which returned £0.425M to general reserves; Children and Adult Services were forecasting a break even position overall, although Children’s Services, were forecasting an over spend of £0.908M.

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

(b)  That further regular reports be made to Cabinet 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.