Cabinet Member: Councillor Darcy

The City Council will be asked to note the Capital and Revenue Monitoring Report 2017/18 Quarter One.

Councillor Darcy (Cabinet Member for Finance/ICT) presented the report on the Capital and Revenue Monitoring Report 2017/18 quarter one.  Councillor Bowyer (Leader) seconded the report.

Following a short debate and vote Council agreed –

1.     to note the current revenue monitoring position and action plans in place to reduce/mitigate shortfalls;

2.     that the Capital Budget 2017 -2022 is revised to £836m (as shown in Table 5).

For the motion (51)

Deputy Lord Mayor, Councillors Aspinall, Coker, Dann, P Davey, S Davey, Evans OBE, Hendy, McDonald, Morris, Murphy, Parker-Delaz-Ajete, Rennie, Smith, Stevens, J Taylor, K Taylor, Tuffin, Tuohy, Vincent, Wheeler, Ball, Mrs Beer, Bowyer, Mrs Bowyer, Churchill, Darcy, Deacon, Downie, Drean, Fletcher, Foster, Fry, James, Jordan, Martin Leaves, Michael Leaves, Mrs Leaves, Dr Mahony, Nicholson, Mrs Pengelly, Ricketts, Wigens, Mrs Bridgeman, Riley, Storer, Mavin, Carson, Winter, Mrs Loveridge and Cook.

Against the Motion (0)

-

Abstain (1)

Lord Mayor

Absent / Did not vote (5)

Councillor Lowry, Penberthy, Sparling, Bowie and Singh.

Andrew Hardingham, Assistant Director for Finance will present the Capital and Revenue Monitoring Report 2016/17 – Quarter 1 which outlines the finance monitoring position of the Council as at the end of June 2016.

Councillor Darcy introduced the Capital and Revenue Monitoring Report setting out the council’s financial position as at the end of June 2016.  The report details how the Council will deliver against its financial measures using its capital and revenue resources, to approve relevant budget variations and virements and to report the new schemes within the Capital Programme.

Cabinet agreed to –

1.         note the current revenue monitoring position and action plans in place to reduce/mitigate shortfalls.

2.         approve the non-delegated revenue budget virements (shown in table 5).

3.         recommend to Council that the Capital budget 2016 – 2021 is increased to £447m (as shown in Table 6).