Councillor Lowry (Cabinet member for Finance) introduced the report following a short discussion, for the reasons set out in the report, Cabinet agreed to –

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

2.    It is recommended that Cabinet approve the non-delegated virements which have occurred since 1st July 2018;

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

4.    to write to the Chancellor of the Exchequer, in letter signed by the Cabinet Member for Finance, calling for Plymouth City Council to be allocated its fair share of the additional £84 million announced in last month’s budget for children’s services;

5.    to support the request (4 above) and make the case for extra funding, the Section 151 Officer and the Director of Children’s Services are asked to provide a business case to support the request setting out why Plymouth City Council should be one of the 20 local authorities which are due to be selected by the Government to receive a proportion of the additional funding.