Council and councillors

To inform on how the Council is performing against its revenue and capital budgets.

Report No. 191/2017 from the Director for Resources was received.

The Portfolio Holder, Mr Mathias, introduced the report, the purpose of which was to inform Cabinet and all Members of the full year forecast position as at Quarter 2 for 2017/18 and to alert them to issues that may impact on the Medium Term Financial Plan to enable them to maintain sound financial management of the Council’s operations.

DECISION

1.    Cabinet NOTED the 2017/18 revenue and capital outturn position as at Quarter 2 (Appendix A, section 1 and section 2, to Report No. 191/2017).

2.    Cabinet APPROVED the use of £80k from the Invest to Save reserve to fund Green Waste costs (as requested in Appendix A para 1.7.3 to Report No. 191/2017) to be repaid over a 3 year period and £20k from the Legal reserve (as requested in Appendix A para 1.7.4 to Report No. 191/2017).

3.    Cabinet NOTED the proposed transfers from earmarked reserves as shown in the table in Appendix A, para 1.7 to Report No, 191/2017 (to be finalised and agreed in the 2017/18 outturn).

4.    Cabinet APPROVED the removal of the £594k funding for OEP capital investment from the capital programme pending further proposals.

5.    Cabinet NOTED the changes to the Approved Capital Programme as outlined in Appendix A para 2.2.1 to Report No. 191/2017.

Reason for Decision

1.    The Quarter 2 position was broadly as expected.