Agenda item

Report of the Cabinet Member for Finance summarising the General Fund and Housing Revenue Account revenue financial position for the Authority for the 3 months to the end of June 2015, attached.

Cabinet agreed to:

i)  note the current General Fund revenue position for 2015/16 as at Qtr 1, which is a forecast over spend at year end of £9.43Magainst the budget approved by Council on 11 February 2015, as outlined in paragraph 4; 

ii)  note that the forecast over spend for portfolios is £9.66M as outlined in paragraph 5;

iii)  agree the actions being put in place to address the overspend position as described in paragraphs 9 and 10;

iv)  note the performance to date with regard to the delivery of the agreed savings proposals approved for 2015/16 as detailed in Appendix 3.

v)  note the performance against the financial health indicators detailed in Appendix 4.

vi)  note the performance outlined in the Quarterly Treasury Management Report attached as Appendix 5.

vii)  note the performance outlined in the Quarterly Collection Fund Report attached as Appendix 7.

viii)  note the current HRA budget monitoring position for 2015/16, as at Qtr 1. There is a forecast overspend at year end of £0.95M against the budget approved by Council on 11 February 2015, as outlined in paragraphs 29 and 30 and in Appendix 6.