Issue - meetings

Cllr Fleur de Rhe Philipe Cabinet member for Finance, Performance and Risk presented a report which advised Cabinet of the revenue budget monitoring position as at 31 August 2010 (period 5) for the financial year 2010-11.  The report also sought Cabinet’s views on a proposal to recommend to Council the approval of virements from reserves as detailed in the report presented.

It was noted that this period had seen an increase in service related pressures within  the Department for Community Services arising largely from a higher than expected demand for services.  However overall action resulted in the forecast overspend for the Council being reduced further and as at the end of this period now stood at £1.038 million.

Cllr de Rhe Philipe explained that the Council would need to assess the implications arising from the Government’s public spending review which would be announced the following day.

In response to a query raised by Cllr Hubbard on behalf of Cllr Peter Colmer, it was agreed to circulate a written response to those Councillors on the reasons for the variances referred to in the revenue budget details.

Resolved:

That Cabinet note the report pending future monitoring reports that will highlight actions being taken to continue to reduce the overspend back to balanced budget.

Recommended to Council:

That in accordance with paragraph 15.7 of the Financial Procedure Rules, Cabinet recommends to Council the approval of the virements from reserves as highlighted at paragraphs 10 and 11 of the report presented.

Reason for Decision

So that Members can approve a corporate approach to managing the financial pressures and government reductions.