Agenda item

As detailed in the recommendations.

The Head of Finance presented the latest revenue budget monitoring information (Month 8) for the Council Fund and the Housing Revenue Account (HRA) 2012/13.

It was reported that the projected year end position, as estimated at Month 8, was a net underspend of £0.611m on the Council Fund and a net underspend of £0.401m on the HRA.  The impact of an improved position on out of county placements was noted and the in year over/(under) spends as detailed in the report reflected a number of risks and assumptions.  The Head of Finance referred to the fourth recommendation in the report which related to the following agenda item on the Municipal Mutual Insurance Scheme of Arrangement.

RESOLVED:

(a)       That the overall report be noted;

(b)       That the Council Fund contingency sum as at 31 March 2013 (paragraph 5.02) be noted;

(c)        That the projected final level of balances on the Housing Revenue Account (paragraph 6.03) be noted;

(d)       That the financial impact of the triggering of the MMI Scheme of Arrangement be reflected in future budget monitoring reports from Month 9 (paragraph 3.08); and

(e)       That the requests for carry forward of underspends to 2013/14 as detailed within paragraphs 3.10 to 3.13 be approved.