Issue - meetings

The Leader and Cabinet Member for Finance submitted a report which informed Cabinet of the financial performance of the Council for the period April 2014 to December 2014. The report also provided projections, based on current trends and information, of the likely outturn at the end of 2014/2015. 

Details of the proposed series of measures that were agreed by Cabinet on 26 November 2014 to curb spend in 2014/2015 were set out and it was proposed that these measures should continue into 2015/2016, as detailed in Paragraphs 3.5 and 3.6 of the report. In addition Prudential Indicators in accordance with CIPFA’s Prudential Code were included.

Delegated decisions:

1. That the financial position of the Council as at 31 December 2014 be noted.

2. That the Section 151 Officer’s assessment of the minimum level of balances be approved.

3. That approval be given for the continued use of the measures into 2015/2016 to help curb spend, as listed in paragraphs 3.5 and 3.6.

Reasons for the decision:

Budget Monitoring falls within the appropriate statutory duties and powers and is a requirement of the Council’s Financial Regulations.

Other option considered and rejected:

To reject the recommendations.