REVENUE & CAPITAL MONITORING 2019/20 FORECAST OUTTURN STATEMENT - MONTH 7
Decision Maker: Cabinet
Decision status: For Determination
Is Key decision?: No
Is subject to call in?: No
That Members consider a net revenue forecast of £3.99m deficit, and the one off adjustments designed to return a balanced position (£245k surplus) prior to the end of March 2020.
That Members note the 85% delivery of the budget setting savings agreed by full Council previously and a need for remedial action/savings in respect of circa 15% savings (£994k) reported as delayed or unachievable by service managers.
That Members consider the capital outturn spend of £39.38m, introducing a £384k anticipated underspend, and the presumptions made around net financing consequences as per para 4.4.
Members note the extent of movements in reserve usage, including individual budgeted draws on school balances, and on current prudent financial planning assumptions.(para 5.2 onwards).
Publication date: 08/01/2020
Date of decision: 08/01/2020
Decided at meeting: 08/01/2020 - Cabinet