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Decision details
Period 4 (end of July) Finance Report
PDF 172 KBDecision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
Purpose:
To provide a progress report on the
Council’s overall financial performance, including against
the approved revenue and capital budgets for the 2016/17 financial
year that were approved by Council on the 16th February
2016.
Decision:
1. Noted the contents of the Report and in particular the seriousness of the General Fund financial position of £32.8m forecast outturn deficit, as at the end of July 2016. This represents an increase to the deficit of £3.7m from end of June forecast;
2. Agreed that Cabinet where appropriate, continue to work with Officers in undertaking mitigating actions to bring the General Fund position closer to balance, in particular endorsing the actions to be led by the Interim Chief Executive, Interim Service Director: Finance and Strategic Leadership Team set out at paragraph 10 of the report;
3. Noted the total movement in the Capital Programme of £24.4m, including slippage of £18.8m from 2016/17 to 2017/18, as detailed in paragraph 30 and Table 6 of the report.
Report author: Annabel Scholes
Publication date: 04/10/2016
Date of decision: 04/10/2016
Decided at meeting: 04/10/2016 - Cabinet
Effective from: 12/10/2016
Accompanying Documents: