Issue - meetings
Quarter 3 Budget Monitoring Report
Meeting: 14/01/2019 - Cabinet (Item 13)
13 Quarter 3 Financial Forecast 2018-19 
PDF 225 KB
The report sets out the current forecasts of income and expenditure against the revenue budget for 2018/19 and other key financial data.
Decision:
RESOLVED that Cabinet noted the overall financial position and the actions being taken to manage the issues arising.
Minutes:
Councillor Margaret McLennan, Deputy Leader of the Council and Lead Member for Resources, introduced the report setting out the current forecasts of income and expenditure against the revenue budget for 2018/19 and other key financial data.
Councillor McLennan stated that the Council is expecting to underspend against the main general fund revenue budget by £1.4m. She outlined, however, that there are significant issues in individual departments.
She stated that there is a forecast overspend of £1.8m in Children & Young People, which has worsened from the position forecast at the end of the second quarter, despite the management action intended to address the overspend.
Offsetting this is a planned underspend of £3.2m in Regeneration and Environment, achieved through a combination of income generation and cost control measures.
RESOLVED that Cabinet noted the overall financial position and the actions being taken to manage the issues arising.