Issue - meetings

To consider a report by the Head of Financial Services

Noted details of the outturn of revenue expenditure for 2006/07 and the variations between the original and revised budget revision for that year and the action to be taken to improve financial monitoring as outlined in Annex D;

A report by the Head of Financial Services was submitted (a copy of which is appended in the Minute Book) which contained details of the outturn of revenue expenditure for 2006/07 and the variations between the original and revised budget revision for that year.

In receiving a presentation by the Director of Commerce and Technology on the 2006/07 financial outturn Executive Councillors were pleased to note that as a result of the ongoing review of budgets and Medium Term Plan schemes the Council had been successful in obviating the need to use its reserves to fund revenue spending. Having expressed their thanks to staff for their efforts in achieving the budgetary outcomes, the Cabinet

RESOLVED

(a)  that the spending variations for the revenue budget 2006/07 be noted; and

(b)  that the action to be taken to improve financial monitoring as outlined in Annex D to the report now submitted also be noted;