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 September 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 6.7 of the report of £35,770; and

(3)     the allocation of £1,500 from the Economic Development Fund at paragraph 6.3 and to note the remaining balance at paragraph 6.4 of the report is £580,199.