This report provides an update on the Revenue Budget position of the Council and the reserve funds at the end of June 2018.

In accepting the recommendations, Cabinet will approve and recommend to Council that the budget remains at £8,096,170 as detailed in paragraph 3.2 of the report; the allocation from the One-off Fund at paragraph 6.6 of the report of £230,060; the total amount of £40,864 at paragraph 6.3 of the report to be returned to the fund and to note that the Economic Development Fund remaining balance to be allocated at paragraph 6.4 of the report is £581,699; note the two waiver of procurement rules at paragraph 7.2 of the report and that Hambleton District Council is part of the North Yorkshire and East Riding submission to the Ministry of Housing, Communities and Local Government to become a 75% Business Rates Pilot in 2019/20 if the Director of Finance (S151 Officer) deems it to be financial advantageous to the Council as detailed in paragraphs 8.1 to 8.7 of the report.

The subject of the decision:

This report provided an update on the revenue budget position of the Council and the reserve funds at the end of June 2018.

Alternative options considered:

None.

The reason for the decision:

To comply with S25 of the Local Government Act 2003 regarding setting a balanced budget and monitoring the financial position throughout the year.

THE DECISION:

That Cabinet approves and recommends to Council that:-

(1)     the budget remains at £8,096,170 as detailed in paragraph 3.2 of the report;

(2)     the allocation from the One-Off fund at paragraph 6.6 of the report of £230,060;

(3)     the total amount of £40,954 at paragraph 6.3 of the report be returned to the fund and to note that the Economic Development Fund remaining balance to be allocated at paragraph 6.4 of the report is £581,699;

(4)     to note the two waiver of procurement rules at paragraph 7.2 of the report; and

(5)     that Hambleton District Council takes part in the North Yorkshire and East Riding submission to the Ministry of Housing, Communities and Local Government (MHCLG) to become a 75% Business Rates Retention Pilot in 2019/20 and that delegated authority is given to the Director of Finance (S151 Officer) to enter into the 75% Business Rates Retention Pilot as detailed in paragraphs 8.1 to 8.7 of the report.