Agenda item

Report of the Strategic Director of Finance and Customer Services.

Recommendations:-

1.    That the current General Fund Revenue Budget forecast of £4.5m overspend.

2.    That it be noted that actions will continue to be taken to mitigate the forecast overspend.

Consideration was given to the report which set out the financial position as at the end of May, 2019 and was based on actual costs and income for the first two months of 2019/20 and forecast for the remainder of the financial year. 

Financial performance was a key element within the assessment of the Council’s overall performance framework and was essential to achievement of the objectives within the Council’s Policy Agenda.  To that end, this was the first in a series of monitoring reports for the new financial year which would continue to be brought forward to Cabinet on a regular basis. The next report would also include an update on the Capital Programme.

As at May 2019, the Council had  forecast year-end overspend of £4.5m on the General Fund.

Resolved:-  (1)  That the current General Fund Revenue Budget forecast of £4.5m overspend be noted.

(2)  That continuing actions to mitigate the forecast overspend be noted.