Issue - meetings

Background:

This report gave details of the forecast outturn for the 2013/2014 financial year based on actual income and expenditure to December.

It was noted that on 21 February 2013 the Council had set a budget requirement of £348.511 million for 2013/2014, with Council Tax increased by 1.99%. Subsequent increases to the Dedicated Schools Grant (DSG) had increased the budget requirement to £352.029 million.

This was the third quarterly report and it indicated that, after management action, the outturn forecast for 2013/2014 stood at a potential overspend of  £3.3 million for non-DSG services, which compared favorably to a forecast overspend of £4.4 million at quarter two. The report provided explanatory information as to the revenue budget position.

Reasons:

Cabinet has the responsibility to ensure effective budgetary control to contain expenditure within the approved limits set by Council. Where a budget overspend is forecast, Cabinet supported by the corporate management team must identify measures to remove any excess expenditure.