DECISION

1.            To note the Council’s projected outturn position against General Fund, Dedicated Schools Budget and HRA budgets agreed for 2018-19, based on information as at the end of December as detailed in the Appendices to the report.

2.            To note the summary savings position.

In respect of the new capital scheme proposals (Annex 1-2 to the report)

3.            Subject to the review and agreement of the Capital Board and member approval, note the increases for schemes identified in Annex 1 and the new schemes set out in Annex 2 of the budget monitoring report.

Action by:

CORPORATE DIRECTOR, RESOURCES (N. MURTON)

(Chief Accountant (K. Miles)

Councillor Candida Ronald, Cabinet Member for Resources and the Voluntary Sector, introduced the report on the Council’s Revenue and Capital Budget monitoring for Quarter three. She highlighted a number of over- and under-spends and budgetary pressures facing the Council. She also set out progress since the last report to Cabinet.

In relation to the pension fund it was noted that the fund had underperformed in particular due to participation in the London CIV mandate.

The Mayor noted the issues raised and he thanked the Lead Member and officers for their work on monitoring the Council’s spending. He agreed the recommendations as set out.

RESOLVED

1.            To note the Council’s projected outturn position against General Fund, Dedicated Schools Budget and HRA budgets agreed for 2018-19, based on information as at the end of December as detailed in the Appendices to the report.

2.            To note the summary savings position.

In respect of the new capital scheme proposals (Annex 1-2 to the report)

3.            Subject to the review and agreement of the Capital Board and member approval, note the increases for schemes identified in Annex 1 and the new schemes set out in Annex 2 of the budget monitoring report.