Council and Democracy

Agenda item

Quarter 2 Budget Monitoring 2017/18 & Updated Medium Term Financial Forecast

Minutes:

Pursuant to Cabinet Minute No.76 the Director of Finance and Resources submitted a report outlining the budget position at the end of the second quarter, covering the General Fund Revenue account, the General Fund Capital Programme and the Housing Revenue account.

 

RESOLVED –

 

1.     That the Council’s financial performance in the first half of the 2017/18 financial year, and the updated medium term financial forecasts through 2022/23, as set out in sections 4 and 8 of the officer’s report, be noted.

 

2.     That the proposed use of reserves, as set out in section 6 of the officer’s report, and the two new applications to the Budget Risk Reserve, be approved.

 

3.     That the proposed revision of the Financial Strategy to reflect a change in the use of surpluses from the Operational Services Division, as set out in section 7 of the officer’s report, be approved.

 

4.     That the position of the Housing Revenue Account budgets, as set out in section 9 of the officer’s report, be noted.

 

5.     That the proposed budget preparation guidelines and approach to consulting the public on the 2018/19 budget, as set out in section 11 of the officer’s report, be approved.

Supporting documents: