(KEY DECISION)

Report No. 32/2018 was received from the Director for Resources.

Mr O Hemsley, Leader of the Council, introduced the report, the purpose of which was to inform Cabinet and all members of the full year forecast position as at Quarter 3 for 2017/18 and to highlight issues that may impact on the Medium Term Financial Plan to enable them to maintain sound financial management of the Council’s operations.

DECISION

Cabinet:

1)    NOTED the 2017/18 revenue and capital outturn position as at Quarter 3.

2)    APPROVED the use of £8k from the Highways earmarked reserve for use on sustainable drainage works as detailed in Appendix B (Report No. 32/2018).

3)    NOTED the increase in Non Ringfenced grants of £26k as detailed in para 2.2.2 (Report No. 32/2018).

Reason for the decision

As the Council is required to make savings over the medium term, the Quarter 3 position is positive as, despite a number of significant variances, the forecast is broadly in line with budget.