Decision details

Financial Monitoring Report 2017/18

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Decision:

Cllr Ray Theodoulou, Cabinet Member for Finance and Change, gave an update on the year-end forecast for the 2017/18 County Council’s Revenue and Capital Budgets.

 

Having considered all of the information, including known proposals and the reasons for the recommendations, Cabinet noted the report and, 

 

RESOLVED to: -

 

1.    Note the forecast revenue year end position, as at the end of October 2017 for the 2017/18 financial year, of a net £0.214 million underspend.

 

2.    Approve the drawdown of £0.921million from the Ordinary Residence(OR) Reserve to fund a back dated OR payment

 

3.    Note the forecast capital year end position, as at the end of October 2017, of £109.277 million against a re-profiled budget of £106.730 million resulting from additional planned scheme spend of £2.546 million with additional funding expected to be confirmed within the next month

 

4.    Note a capital budget re-profiling exercise that has taken place since the previous Cabinet Finance Monitoring report – as outlined in Section B of this report. This re-profiling has been approved in accordance with the formal scheme of delegation to officers and there is no impact on the overall value of the approved capital programme.

 

5.    Approve the revenue contribution to capital of £0.123 million from the Highways Locals Budget to the Highway Capital Budget to support the completion of capital schemes

 

6.    Approve the allocation of £0.013 million Section 106 developer contributions towards St Paul’s Primary garden room capital project

 

7.    Note the overall increase to the Capital programme taking into account the above changes of £0.136 million

 

 

 

Report author: Cllr Ray Theodoulou

Publication date: 13/12/2017

Date of decision: 13/12/2017

Decided at meeting: 13/12/2017 - Cabinet

Effective from: 21/12/2017

Accompanying Documents: