Councillor Lowry (Cabinet member for Finance) introduced the report.  It was highlighted that –

·         inherited a budget in which there was £2.4m overspend;

·         £11m savings to be derived this year due to cuts by Government

·         Cabinet members have been working hard with Service Directors to identify savings;

For the reasons set out in the report Cabinet agreed –

1.    to note the current revenue monitoring position and action plans in place to

reduce/mitigate shortfalls;

2.    to approve the non-delegated virements which have occurred since 1st April 2018;

3.    to recommend to Council that the Capital Budget 2018 -2023 is revised to £581.1m (as shown in Table 6).