Agenda item

Pursuant to Cabinet Minute No.111 the Chief Finance Officer submitted a report outlining the budget position at the end of the second quarter, covering General Fund Revenue account, the General Fund Capital account, the Housing Revenue account as well as the Housing Capital Programme. The report outlined projected deficits in 2015/16, 2016/17, and 2017/18 in respect of the General Fund Revenue Account.

RESOLVED -

1.   That the council’s financial performance in the first half of the financial year and the revised medium term forecast be noted.

2.   That the changes to the General Fund Capital Programme as outlined in the officer’s report be approved.

3.   That the proposed new use of reserves as outlined in the officer’s report be approved.

4.   That the changes to the Housing Revenue Budget be noted.