Issue - meetings

To consider a report by the Head of Financial Services outlining spending variations.

The forecast spending variations, the potential VAT reclaim and the position on debts collected and written off were noted.

The Cabinet received a report by the Head of Financial Services (a copy of which is appended in the Minute Book) on the projected revenue budget outturn for 2008/09 together with details of variations from a previous forecast.  The report also highlighted the effect on services of economic trends.  With regard to a proposal to establish a "Recession Rserve" to maintain affected services, Executive Members were of the view that a decision in this respect should be deferred pending receipt of the outturn figures.  Having noted the potential implications of a claim for the refund of VAT payments, it was

RESOLVED

  that the forecast variations in the revenue budget for 2008/09 be noted.