Decision details

RESOLVED:-

(i)        that the contents of the Corporate Financial Performance Report for Quarter Ending 31^st December, 2016, now submitted, be noted;

(ii)       that Executive Directors/Directors (where appropriate) be requested to provide detailed plans on how their forecast overspends will be brought back into line with existing budgets on a recurrent basis;

(iii)      that the continued overspends on Place’s 2017/18 budget to reflect the non-delivery of existing 2015-17 Key Lines of Enquiries that will not be fully corrected before the year end be noted;

(iv)      that approval be given to write off £2.5m of historic bad debts as shown at paragraph 6.3;

(v)       that the budget virements listed in Appendix 1 be approved;

(vi)      that the potential impact of the Quarter 3 monitoring position on the Council’s Medium Term Financial Strategy (MTFS) detailed at paragraph 7 be noted and a further report be requested on the demographic pressures to determine how this will be reflected in the Council’s MTFS in future;

(vii)     that the updated reserves position as outlined at paragraph 8.2 be noted and the transfer to strategic reserves at year end when the final position is known be noted; and

(viii)    that the further Invest to Grow schemes totalling £1.05m provided at Section 8 of the report be approved.