Lead Member - Mr Mike Owen, Portfolio Holder for Finance, Resources and Support.

Report of the Head of Finance, Governance and Assurance is attached, marked 7.

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RESOLVED:

i)             That it be noted that at the end of Quarter 2 (28 August 2015), the full year forecast is  a potential overspend of £4.135m;

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

The Portfolio Holder for Finance, Resources and Support presented a report by the Head of Finance, Governance and Assurance – copy attached to the signed minutes – which set out the Revenue forecast for 2015/2016 at Quarter 2 and identified the current projections on delivery of savings included within the forecast.  Responding to questions from Members, he reported that the projected overspend had reduced since Quarter 1 and further work would be undertaken over the next six months to bring the budget into balance. 

In response

RESOLVED:  

i)        That it be noted that at the end of quarter 2 (28 august 2015), the full year forecast is a           potential overspend of £4.135m;

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