169 Budget Monitoring 2016/17 PDF 60 KB
Report of the County Treasurer (CT/17/20) on the position at Month 10, attached.
(Councillors Brazil, Hannan, Hook, Julian and Westlake attended in accordance with Standing Order 25(2) and spoke to this item).
The Cabinet considered the Report of the County Treasurer (CT/17/20) on the financial position at Month 10 and outlining areas of specific pressures on budgets, potential under- and over-spendings in the current financial year and management action being taken where individual budget lines were experiencing pressures.
The Cabinet noted that, overall, the forecast for revenue spending at year-end now showed an overspend of £6,200,000, a decrease of £1,900,000 over the position at Month 8. However, were the New Burdens Resilience Budget to be applied - as previously considered by the Cabinet - then there would be a net underspend of £1,000,000.
The latest projections showed net reductions in the projected underspends for Adult Social Care and Children’s Social Work and Child Protection. The projected overspend for Education and Learning had increased due largely to school transport costs. Place and Corporate Services budgets continued to show year-end underspends although a cautionary note had, necessarily, to be struck in respect of Place Services with the potential for further bad weather events and winter emergencies.
In relation to capital expenditure, spending was estimated at £140,500,000 with slippage of £25,600,000 in a number of schemes including Marsh Barton Railway Station, Roundswell (Phase 2), Tithebarn Link and the South Devon Highway.
The matter having been debated and the options and/or alternatives and other relevant factors set out in the County Treasurer’s Report and/or referred to above having been considered:
It was MOVED by Councillor Clatworthy, SECONDED by Councillor Hart, and
RESOLVED that the position based on Month 10 and actions being taken to balance budget pressures be noted.