The Portfolio Holder for Finance presented a report from the Head of Finance, Governance and Assurance setting out the projected revenue expenditure for the whole of 2017/18 as at Quarter 3.

RESOLVED:

i.      That it be noted that at the end of Quarter 3 (31 December 2017), the full year revenue forecast is a potential underspend of £0.059m;

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

iii.   That net budget variations of £10.073m to the 2017/18 capital programme be approved, detailed in Appendix 3/Table 6, and the re-profiled 2017/18 capital budget of £58.276m.  Variations include revenue contributions of £0.132m towards school projects and Community Library Schemes and a reduction in HRA revenue contributions of £1.249m.

iv.   That re-profiled capital budgets of £46.290m for 2018/19, £7.487m for 2019/20 and £0.667m for 2020/21, be approved as detailed in Appendix 3/Table 9.

v.    That the capital expenditure to date of £37.655, representing 65% of the revised capital budget for 2017/18, with 75% of the year having elapsed, be accepted.