Issue - decisions
Q1 Finance and Capital Report
20/08/2018 - Quarter 1 Finance Revenue and Capital Monitoring Report
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).