Issue - meetings
Financial Monitoring Quarter 1 Report
Meeting: 13/09/2017 - Cabinet (Item 34)
34 Financial Monitoring Quarter 1 
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To consider the report of the Cabinet Member for Performance and Resources noting yearend forecasts, and progress made against agreed savings targets for the 1st quarter ended 30th June 2017.
Additional documents:
- Financial Monitoring Quarter 1 (Appendix 1), item 34
PDF 59 KB
- Financial Monitoring Quarter 1 (Appendix 2), item 34
PDF 145 KB
Decision:
RESOLVED that it be noted that:
1. The savings achieved in year to date total £1.654 million with a further £385k in progress.
2. The forecast year end position is currently for a reduction to the Council’s General Fund balance of £361k.
3. The details of specific budgetary issues identified by officers and the actions being taken to address those issues
4. The current level of Capital expenditure as shown on Appendix 2.
Minutes:
The Cabinet considered the report of the Cabinet Member for Performance and Resources noting the year-end forecasts and progress made against agreed savings targets for the first quarter ended 30th June 2017. He emphasised that the report reported on early stage of the year and commented that organisational change was still on-going and he was confident that outturn position would improve as the year progressed. He further commented that the Portfolio Holders would be challenging officers to achieve income generation.
The Cabinet Member for Culture and Leisure explained that her portfolio area would be one of the last to benefit from the organisational changes and that the new Head of Culture would have a significant impact. She noted that some of the new proposals were progressing well including catering at Blackfriars. She commented that budget targets and specific elements of service would be reviewed over the coming year.
RESOLVED that it be noted that:
1. The savings achieved in year to date total £1.654 million with a further £385k in progress.
2. The forecast year end position is currently for a reduction to the Council’s General Fund balance of £361k.
3. The details of specific budgetary issues identified by officers and the actions being taken to address those issues
4. The current level of Capital expenditure as shown on Appendix 2.