The Leader of the Council and Portfolio Holder for Strategy, Financial Strategy, Budget and Business Plan presented a consolidated report by the Head of Finance, Governance and Assurance (Section 151 Officer) on Revenue and Capital monitoring.

            RESOLVED:

i)          That it be noted that at the end of Quarter 3 (31 December 2016), the full year revenue forecast is a potential underspend of £0.244m;

ii)         That the impact of this on the Council’s General Fund Balance be considered.

iii)        That net budget variations be approved of £6.215m to the 2016/17 capital programme, detailed in Appendix 3/Table 6 and the re-profiled 2016/17 capital budget of £53.951m.

iv)        That re-profiled capital budgets be approved of £66.058m for 2017/18 and £25.800m for 2018/19 and £2.320m for 2019/20 as detailed in Appendix 1/Table 9.

v)         That the capital expenditure to date of £26.972m be accepted, representing 50% of the revised capital budget for 2016/17, with 75% of the year having elapsed.