Lead Member – Councillor D Minnery – Portfolio Holder for Finance

Report of the Director of Finance, Governance and Assurance (Section 151)

RESOLVED:

A.           That it be noted that at the end of Quarter 3 (31^st December 2018), the full year revenue forecast is a potential overspend of £0.072m;

B.           To consider the impact of this on the Council’s General Fund balance.

C.           To approve net budget variations of £6.866m to the 2018/19 capital programme, detailed in Appendix 3/Table 6, and the re-profiled 2018/19 capital budget of £65.856m.

D.           To accept the capital expenditure to date of £28.961m, representing 44% of the revised capital budget for 2018/19, with 75% of the year having elapsed.

E.           To approve that Shropshire Council act as accountable body on behalf of the Shropshire & Telford & Wrekin One Public Estate programme.

The Leader introduced a report from the Director of Finance, Governance and Assurance detailing the projected revenue expenditure for the whole of 2018/19 as at Quarter 3.

Responding to a Member’s comment about the need for the spending and recruitment freeze to achieve a balanced budget, the Leader observed that the very nature of local government had led to this action being necessary.  He congratulated members and officers for achieving a neutral budget, which was an excellent achievement in view of the circumstances. 

RESOLVED:

A.              That it be noted that at the end of Quarter 3 (31^st December 2018), the full year revenue forecast is a potential overspend of £0.072m;

B.              To consider the impact of this on the Council’s General Fund balance.

C.              To approve net budget variations of £6.866m to the 2018/19 capital programme, detailed in Appendix 3/Table 6, and the re-profiled 2018/19 capital budget of £65.856m.

D.              To accept the capital expenditure to date of £28.961m, representing 44% of the revised capital budget for 2018/19, with 75% of the year having elapsed.

E.              To approve that Shropshire Council act as accountable body on behalf of the Shropshire & Telford & Wrekin One Public Estate programme.