To inform the Cabinet Member of the projected revenue expenditure within the portfolio cash limit and capital programme for the current financial year 2017-18. This report sets out the budget position and contributing factors to the projected spend within the portfolio as at the end of December 2017.
RECOMMENDED that the Cabinet Member notes the Education Portfolio forecast revenue and capital budget positions, as at the end of December 2017, together with the variance and pressure explanations.
(TAKE IN REPORT)
The report was introduced by Beverley Pennekett, Interim Finance Manager.
In response to a question from the Cabinet Member, Mrs Pennekett said that the underspend was likely to increase at this stage and Mr Stoneman echoed that. Ms Corcoran added that in terms of capital funding officers always have a backlog of projects in terms of supporting schools improve their accommodation so any underspend will definitely be used on school projects.
DECISION: the Cabinet Member noted the Education Portfolio forecast revenue and capital budget positions, as at the end of December 2017, together with the variance and pressure explanations.