Agenda item

8.1

The Executive Director, Resources submitted a report providing the month 3 monitoring statement on the City Council’s Revenue Budget for 2013/14.

8.2

RESOLVED: That Cabinet:-

(a)

notes the updated information and management actions provided by the report on the 2013/14 budget position;

(b)

approves the recommendation in paragraph 5 of the report which stated that any additional grants received which were not in the approved 2013/14 budget, are to be held corporately until such point that EMT agrees otherwise; and

(c)

delegates authority to the Cabinet Member for Finance and Resources approval of the slippage in order to expedite the re-profiling of the Capital Programme.

8.3

Reasons for Decision

8.3.1

To formally record changes to the Revenue Budget and Capital Programme and gain Member approval for changes in line with Financial Regulations and to reset the Capital Programme in line with the latest information.

8.4

Alternatives Considered and Rejected

8.4.1

A number of alternative courses of action were considered as part of the process undertaken by Officers before decisions were recommended to Members. The recommendations made to Members represented what Officers believed to be the best options available to the Council, in line with Council priorities, given the constraints on funding and the use to which funding is put within the Revenue Budget and Capital Programme.

8.5

Any Interest Declared or Dispensation Granted

None

8.6

Reason for Exemption if Public/Press Excluded During Consideration

None

8.7

Respective Director Responsible for Implementation

Laraine Manley, Executive Director, Resources

8.8

Relevant Scrutiny and Policy Development Committee If Decision Called In

Overview and Scrutiny

8.1

The Executive Director, Resources submitted a report providing the month 3 monitoring statement on the City Council’s Revenue Budget for 2013/14.

8.2

RESOLVED: That Cabinet:-

(a)

notes the updated information and management actions provided by the report on the 2013/14 budget position;

(b)

approves the recommendation in paragraph 5 of the report which stated that any additional grants received which were not in the approved 2013/14 budget, are to be held corporately until such point that EMT agrees otherwise; and

(c)

delegates authority to the Cabinet Member for Finance and Resources approval of the slippage in order to expedite the re-profiling of the Capital Programme.

8.3

Reasons for Decision

8.3.1

To formally record changes to the Revenue Budget and Capital Programme and gain Member approval for changes in line with Financial Regulations and to reset the Capital Programme in line with the latest information.

8.4

Alternatives Considered and Rejected

8.4.1

A number of alternative courses of action were considered as part of the process undertaken by Officers before decisions were recommended to Members. The recommendations made to Members represented what Officers believed to be the best options available to the Council, in line with Council priorities, given the constraints on funding and the use to which funding is put within the Revenue Budget and Capital Programme.