Issue - meetings

To consider a report (copy enclosed) detailing the latest financial position and progress against the agreed budget strategy.

RESOLVED that Cabinet notes the budgets set for 2017/18 and progress against the agreed strategy.

Councillor Julian Thompson-Hill presented the report detailing the latest financial position and service budgets for 2017/18 together with the Budget Summary Book 2017/18 (Appendix 1 to the report).  He provided a summary of the Council’s financial position as follows –

·        the net revenue budget for 2017/18 was £189.252m (£185.062m in 2016/17)

·        details of service efficiencies worth £0.902m which had already been agreed as part of the budget with the assumption that all would be delivered – any exceptions would be reported to Cabinet if required

·        there being no variances to report at this stage in the financial year but a number of service pressures had been highlighted which required careful monitoring, and

·        a general update on the Capital Plan, Housing Revenue Account and Housing Capital Plan.

Councillor Huw Jones queried the budget reduction shown against parking services which was predominantly the budgeted income expected to be raised from parking charges.  The Head of Finance agreed to ascertain whether the amount included any other fees or elements which might account for the reduction and report back thereon.

RESOLVED that Cabinet notes the budgets set for 2017/18 and progress against the agreed strategy.