Issue - meetings

Background:

This report detailed the revenue budget forecasts as at the end of December 2015. Table 1 within the report contained a summary of the forecast position, which reflected the individual directorate monitoring summaries attached at Appendices 1 – 5 to the report.

It was noted that after agreed management action, the forecast overspend for 2015/2016 was estimated at £3.1m. This represented a more favourable position than the £5.9m reported to Cabinet on 24 November 2015. 

The report explained that whilst the pressure on children’s social care had continued to escalate, a review of treasury management budgets, together with a proposed change to the Council’s policy in relation to the minimum revenue provision for repayment of debt, had significantly reduced the forecast overspend.

Reasons:

Cabinet has the responsibility to ensure effective budgetary control to contain expenditure within the approved limits set by Council.