Issue - decisions

Revenue Budget Monitoring 2017/18 (Quarter 3)

16/03/2018 - Revenue Budget Monitoring 2017/18 (Quarter 3)

The Cabinet agreed that:

 

(i) The forecast outturn position for 2017/18 be noted:

 

(a) An underspend of £1,257,600 before further forecast transfers (from)/to Portfolio Specific Reserves & Ring Fenced Public Health Reserve

(b) An underspend of £133,300 after further forecast transfers (from)/to Portfolio Specific Reserves & Ring Fenced Public Health Reserve.

 

(ii) Members noted:

 

(a) That any actual overspend at year end will in the first instance be deducted from any Portfolio Specific Reserve balance and once depleted then be deducted from the 2018/19 Cash Limit.

(b) That on 13th February 2018 City Council approved that any underspending for 2017/18 arising at year-end outside of those made by Portfolio's (currently forecast at £133,300) be transferred to Capital resources.

 

(iii) Directors, in consultation with the appropriate Cabinet Member, consider options that seek to minimise any forecast overspend presently being reported and prepare strategies outlining how any consequent reduction to the 2018/19 Portfolio cash limit will be managed to avoid further overspending during 2018/19.