The subject of the decision:

This report provided an update on the revenue budget position of the Council (revenue and reserve funds) at the end of December 2013.

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 adjustments at paragraph 3.2 of the report which total a budget increase of £127,240, to £7,619,630 in 2013/14 be approved;

(2)     income of £71,637 be removed from the One-Off Fund in relation to the homelessness grant no longer received as detailed in paragraph 6.2 of the report;

(3)     the allocation of £83,000 from the new homes bonus reserve for the empty properties review as detailed in paragraph 6.7 of the report be approved; and

(4)     all movements in the reserves be noted as detailed in paragraphs 6.2 to 6.6 of the report.