RESOVED That Cabinet:

1.         Note the financial reporting data relating to revenue budgetary control, showing a forecast net overspend at year end of £2.7million, 0.5% of the gross budget.

2.         Note the proposed adjustments to the Capital Programme detailed in appendix 5b and approve the two items in the Table below:

* to note that this expenditure will be required regardless of whether or not the Phase C of the Waste Partnership is progressed.

** This investment will significantly contribute towards the estimated £2 million of annual revenue savings (allowing for the debt charges of the scheme)

3.         Endorse the addition of the £5.702 million SWLP Scheme above and that this is sent to Council on 23 November 2016 for its approval.

4.         Note the virement of £109k from the corporate contingency to Children, Schools and Families for the first quarter costs of additional social worker capacity and the virement from Corporate Services to Community and Housing for the housing benefit cost for temporary accommodation

At the request of the Cabinet, the Director of Corporate Services introduced this report and item 9 (Financial Monitoring July 2016) at the same time.  She highlighted that between June and July there was an increased overspend and actions being taken to address the overspend will be reported back to Cabinet in October

RESOLVED:  That Cabinet:

1.         Note the financial reporting data relating to revenue budgetary control, showing a forecast net overspend at year end of £2.7million, 0.5% of the gross budget.

2.         Note the proposed adjustments to the Capital Programme detailed in appendix 5b and approve the two items in the table below:

* to note that this expenditure will be required regardless of whether or not the Phase C of the Waste Partnership is progressed.

** This investment will significantly contribute towards the estimated £2 million of annual revenue savings (allowing for the debt charges of the scheme)

3.         Endorse the addition of the £5.702 million SWLP Scheme above and that this is sent to Council on 23 November 2016 for its approval.

4.         Note the virement of £109k from the corporate contingency to Children, Schools and Families for the first quarter costs of additional social worker capacity and the virement from Corporate Services to Community and Housing for the housing benefit cost for temporary accommodation