Decision details

The Business Manager – Financial Services presented a report which compared the revised budgets for both the General Fund Revenue and Capital Programme, for the period ending 31 March 2019, with the Projected Outturn forecast for the period based on three quarters performance information.

The appendices to the report detailed anticipated performance against budget for the period to 31 March 2019. The overview of the General Fund Revenue budget showed a projected favourable variance against the revised budget of £213k on Service budgets, with an overall favourable variance of £959k. The main variations from the revised budget were detailed in the report.

In respect of the Capital Programme resources the estimated outturn of £26.425m would be financed through borrowing, external grants and contributions, capital receipts and revenue contributions as set out in the report. It was noted that any savings on capital projects would be assessed and used to meet additional demands or to fund the Capital Programme in future years.

AGREED (unanimously) that:

(a)        the General Fund projected favourable outturn variance of £959k be noted;

(b)        the variations to the Capital Programme at Appendix B to the report, totalling -£6.057m be approved; and

(c)        the Capital Programme projected outturn and financing of £26.425m be noted.

Reason for Decision

To update Members with the forecast outturn position for the 2018/19 financial year.