Decision details

That Cabinet notes the extent of forecast revenue underspend using period 3 data of £79,000, an improvement of £919,000 on previous reported position at period 2.

That Cabinet expects Chief Officers to continue to review the levels of over and underspends and reallocate budgets to reduce the extent of compensatory positions needing to be reported from at quarterly cycles.

That Cabinet appreciates the extent of predicted schools reserve usage, its effect of forecast outturn reserve levels and the related anticipation that a further 6 schools will be in a deficit position by end of 2016-17.

That Cabinet considers the capital monitoring, specific over and underspends, and importantly that Cabinet recognises the risk associated with having to rely on a use of capital receipts in the year of sale and the potential for this to have significant revenue pressures should receipts be delayed and temporary borrowing be required.

That Cabinet approves an additional investment of £30,000 into the Disabled Facilities Grant capital budget in order to respond to demands being placed on the current programme, funded by a virement from existing Highways Maintenance and Access for All budgets.

That Cabinet approves a £30k increase to Woodstock Way linkage scheme afforded by an equivalent underspend to another area improvement scheme (Abergavenny).