Councillor Dick Tonge, Cabinet Member for Finance, presented the report which advised members of the revenue budget monitoring position as at the end of period 9 (end of December 2015) for the financial year 2015/2016 with suggested actions as appropriate. In his presentation, Cllr Tonge referred to the actions taken to address any overspends to enable the Council to reach a breakeven position for the financial year. He stated that he expected a balanced budget to be achieved, and that the amount of reserves was in line with strategy.
Resolved
To note the outcome of the period 9 (end of December) budget Monitoring.
Reason for Decision:
To inform effective decision making and ensure a sound financial control environment.