Agenda item

RESOLVED –

1.    That at Quarter 3 the net expenditure on services year to date was £10,026,000, £314,000 less than forecast, be noted;

2.    That by year end the Council anticipated net expenditure of £13,910,000 on services, £8,000 under budget and an improvement since Quarter 2 of £170,000, be noted;

3.    That the establishment of a ‘Waste Bin Replacement Reserve’ which will hold an annual contribution towards the purchase of new waste bins, be approved; and

4.    That the Write Offs set out in paragraph 2.29 and detailed at Appendix J to the report be approved.

REASON FOR DECISION:

To show the actual expenditure on services compared to the revised budget for the period ended 30 December 2018, and the forecast outturn position, highlighting significant variances from the revised annual budget.

Councillor Reilly and Jane Fineman, Head of Finance and Procurement, introduced the report set out in the agenda.

The discussion included consideration of the following additional matters:

·         Members had confidence in the Finance team and the results were welcomed.

RESOLVED –

1.    That at Quarter 3 the net expenditure on services year to date was £10,026,000, £314,000 less than forecast, be noted;

2.    That by year end the Council anticipated net expenditure of £13,910,000 on services, £8,000 under budget and an improvement since Quarter 2 of £170,000, be noted;

3.    That the establishment of a ‘Waste Bin Replacement Reserve’ which will hold an annual contribution towards the purchase of new waste bins, be approved; and

4.    That the Write Offs set out in paragraph 2.29 and detailed at Appendix J to the report be approved.

REASON FOR DECISION:

To show the actual expenditure on services compared to the revised budget for the period ended 30 December 2018, and the forecast outturn position, highlighting significant variances from the revised annual budget.