Issue - meetings

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

Noted the spending variations in the Revenue Budget as at 31^st December 2010.

The Cabinet received and noted a report by the Head of Financial Services (a copy of which is appended in the Minute Book) detailing expected variations to in revenue expenditure in the current year.

In discussing the total amounts of payments written-off in the year for Council Tax and National Non Domestic Rates, Members were advised that there had been an increase in the number of company liquidations during 2010 as a consequence of the downturn in the economic climate which had led to an increase in the value of debts being written-off.

Members noted that the expected outturn of revenue expenditure was now £23.1m which was £0.7m less than assumed in the draft 2011/12 budget.  The reduction was mainly due to one-off items and service managers implementing saving plans ready for 2011/12.  Executive Councillors were advised that it would no longer be necessary to transfer savings, to the savings reserve, as the latest projections suggest that the necessary savings for 2011/12 will be achieved.

Whereupon, it was

RESOLVED

that the spending variations in the Revenue Budget as at 31^st December 2010 be noted.