Issue - meetings

As detailed in the recommendation.

The Head of Finance provided Members with the first available revenue budget monitoring information for the Council Fund and Housing Revenue Account (HRA) for 2013/14.

Appendix 1 showed that based on the current forecasts there was a potential positive variation to the 2013/14 Council Fund budget of £1m which would have a £0.540m positive impact on the assumptions already in the Medium Term Financial Plan (MTFP).  Details of the reasons for the variation were detailed in the report.

The final outturn report earlier on the agenda had outlined the reasons why the full projected year 2012/13 end position could not be reported earlier and the range of actions agreed and implemented to strengthen financial control, budget management and reporting from 2013/14 onwards, noting that the Council had decreasing financial flexibility year on year and therefore needed to tighten its reporting and control arrangements.

RESOLVED:

That the report be noted.