Issue - meetings

To consider a report by the Head of Financial Services.

Noted the spending variations

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 in revenue expenditure in the current year.

Particular attention was drawn to the New Homes Bonus Scheme and Executive Councillors were mindful of the possibility that the forecast for delivery of new homes may not materialise thereby affecting the level of bonus allocated by the Government.  Members were advised that development would be monitored closely and the likelihood of achieving forecast amounts included in the quarterly monitoring reports.

In discussing the total amounts of payments written-off in the year for Council Tax and National Non-Domestic Rates, Members were reminded that from 2013 the amounts written off will affect the level of business rates the Council is allowed to retain and this may have an impact on the Council’s financial position.

Whereupon, it was

RESOLVED

  that the spending variations in the revenue budget be noted.