Issue - meetings

Report of the Chief Financial Officer and Cabinet Member for Finance detailing proposed changes to existing Revenue and Capital Budgets to incorporate changes to this and future years’ budgets, attached.

The report of the Chief Financial Officer and Cabinet Member for Finance was submitted detailing proposed changes to existing Revenue and Capital Budgets to incorporate changes to this and future years’ budgets.

RESOLVED

(i)  To note the current 2015/16 General Fund revenue position as detailed in paragraph 11.

(ii)  To note the Medium Term Financial Forecast will be further updated for the November budget report to Cabinet.

(iii)  Approve the savings proposals, as set out in Appendix 1 to this report and paragraph 16 to 23.

(iv)  Approve the use of reserves in 2015/16 to manage any potential shortfall in capital receipts resulting from timing delays of actual receipt as a result of complex land disposals as detailed in paragraph 22.

(v)  Note the remaining budget shortfall for 2016/17 to 2019/20 as set out in paragraphs 24 to 26.

(vi)  Delegate authority to the Chief Financial Officer to action all budget changes arising from the approved efficiencies, income and service reductions and incorporate any other approved amendments into the General Fund Estimates.

(vii)  Delegate authority to the Chief Financial Officer (CFO) following consultation with the Cabinet Member for Finance to do anything necessary to give effect to the recommendations in this report.

DECISION MADE: (CAB 15/16 15888)

On consideration of the report of the Cabinet Member for Finance, Cabinet agreed to recommend the following to full Council:

(i)  To note the current 2015/16 General Fund revenue position as detailed in paragraph 11.

(ii)  To note the Medium Term Financial Forecast will be further updated for the November budget report to Cabinet.

(iii)  To approve the savings proposals, as set out in Appendix 1 to this report and paragraph 16 to 23.

(iv)  To approve the use of reserves in 2015/16 to manage any potential shortfall in capital receipts resulting from timing delays of actual receipt as a result of complex land disposals as detailed in paragraph 22.

(v)  To note the remaining budget shortfall for 2016/17 to 2019/20 as set out in paragraphs 24 to 26.

(vi)  Delegate authority to the Chief Financial Officer to action all budget changes arising from the approved efficiencies, income and service reductions and incorporate any other approved amendments into the General Fund Estimates.

(vii)  Delegate authority to the Chief Financial Officer (CFO) following consultation with the Cabinet Member for Finance to do anything necessary to give effect to the recommendations in this report.