Issue - meetings

(Report of Director of Finance and Transformation)

The report provided information on the Council’s key budget areas of salaries, major income streams and investment income.  It also gave details of the variations agreed in relation to the revenue budget and areas identified through budget monitoring, summarised to provide an overall budget position for 2017/18 which showed a net favourable variance of £433,050.

However, reference was made to the projected funding gap and progress made towards meeting this year’s savings target of £650,000.  All Councillors were urged to attend the forthcoming finance briefing for Members when the significant financial challenge ahead would be discussed.  An update was also given on capital expenditure and variations agreed in relation to the capital plan.

Following consideration by the Finance, Innovation and Property Advisory Board, the Cabinet Member for Finance, Innovation and Property resolved that:

The contents of the report be noted and endorsed.

Decision Notice D170060MEM

The report of the Director of Finance and Transformation provided information on the Council’s key budget areas of salaries, major income streams and investment income.  It also gave details of the variations agreed in relation to the revenue budget and areas identified through budget monitoring, summarised to provide an overall budget position for 2017/18 which showed a net favourable variance of £433,050.

However, reference was made to the projected funding gap and progress made towards meeting this year’s savings target of £650,000.  All Councillors were urged to attend the forthcoming finance briefing for Members when the significant financial challenge ahead would be discussed.  An update was also given on capital expenditure and variations agreed in relation to the capital plan.

RECOMMENDED:  That the contents of the report be noted and endorsed.