Issue - meetings

Budget Monitoring

Meeting: 13/12/2011 - Cabinet (Item 171)

171 Budget Monitoring

Report by the Service Director - Finance is attached.

Supporting documents:


Mrs Bobby Chettlebrugh addressed Cabinet on this item.


Cllr John Brady, Cabinet member for Finance, Performance and Risk presented a report which advised Cabinet of the revenue budget monitoring position as at the end of Period 7 (October 2011) for the financial year 2011/2012 and highlighted significant new cost pressures or changes since the last report to Cabinet on 18 October 2011.


The Period 5 budget monitoring report identified significant potential cost pressures that totalled £2.859 million. This period identified improvements in these cost pressures totalling £1.320 million. This gives revised potential cost pressures of £1.539 million at period 7.


It was noted that further action was being taken to balance the budget by 31 March 2012 as outlined in the report presented.


If the budget was balanced by the end of the financial year, the year end balance on the general fund reserves was projected to be £11.551 million which  would meet the requirement to keep robust reserves as set out in the Council’s financial plan.




That Cabinet notes the outcome of the Period 7 (October 2011) budget monitoring and the updated movements since the previous report in October.


Reason for decision


To inform effective decision making and ensure a sound financial control environment.