Issue - meetings

This report summarised the revenue monitoring position for the current year based on actual income and expenditure to November 2010.

It was noted that on 25 February 2010 the Council had set gross revenue spending at £625 million and a General Fund net budget requirement of £182.713 million for 2010/2011. It was noted that Council had revisited this in July 2010 in response to the public expenditure reductions announced by the government.

The monitoring report indicated that after management action, the outturn forecast for 2010/2011 currently stood at a £383,000 overspend. Dedicated Schools Grant (DSG) services were predicting a minor overspend of £10,000. After allowing for the approved reserve contribution towards achieving the spending reductions, the forecast for general fund services would be for an overspend of £59,000.

An analysis of the budget position for each directorate was set out in the report and accompanying appendices.

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.