The Deputy Leader of the Council and Cabinet Member for Finance and Corporate Affairs submitted a report informing Cabinet of the Council’s financial position for the period to June 2013 and the projects the likely outturn at the end of 2013/14.
The report also includes Prudential Indicators in accordance with CIPFA’s Prudential Code.
Delegated decisions:
1. That the financial position of the Council as at 30 June 2013 be noted.
2. That approval be given to the s151 officer’s assessment of the minimum level of balances.
Reason for the decision:
The monitoring of the Council budget provides an early warning of any potential major overspends or underspends. This 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 recommendation.