Issue - meetings

Budget Monitoring

Meeting: 18/10/2011 - Cabinet (Item 143)

143 Budget Monitoring Period 5 August 2011

Report of the Director of Finance is circulated


Supporting documents:


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 5 (August 2011) for the financial year 2011/12. The report highlighted any significant changes since the report to the last ordinary meeting on 13 September 2011.


The previous monitoring report had identified significant potential cost pressures totalling £3.084 million. This had reduced by £0.225 million in the current period giving a revised potential cost pressure of £2.859 million.


Cllr Brady pointed out that any proposals to reduce car parking charges as part of the review to be considered by Council on 8 November 2011 should only be made alongside parallel proposals on how such a move would be funded to avoid a reduction in income.


It was noted that the report presented was in a different format from previous monitoring reports this year. The new format focussed on the gross and net position by service and included comprehensive appendices showing the individual budget headings. Responding to a point made by Cllr Jeff Osborn, Chairman of the Organisation and Resources Select Committee, Cllr Brady confirmed that in future both formats would be presented to include the at a glance ‘traffic light’ presentation. It was noted that future reports would be presented on a bi-monthly basis.


CllrJeff Osborn in particular and other members asked a number of questions to which Cllr Brady and other members of Cabinet responded.




That Cabinet:


1)    notes the outcome of the period 5 (August) budget monitoring and the updates received since the previous report in September 2011 and


2)    approves the re-phasing of expenditure on Carbon reduction and the release of £0.500 million from the General Fund to the Transformation Budget.

Reason for Decision


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