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 December 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 decrease at paragraph 3.3 of the report in Quarter 3 of £85,750 which results in a budget of £8,010,420;

(2)     the transfer of funds detailed in paragraph 3.6 of the report to the Local Plan Reserve of £110,070 and Repairs and Renewal budget of £30,000 at Quarter 4 from the expected surplus or Council Tax Payers Reserve;

(3)     to approve the total amount of new expenditure of £1,964 in the Economic Development Fund at paragraph 6.2 and to note that Economic Development fund remaining balance at paragraph 6.3 of the report is £580,199;

(4)     to approve the allocation from the One-Off fund at paragraph 6.5 of the report of £19,030;

(5)     to approve the roll forward to 2019/20 of £4,591 from the Make a Difference Fund at paragraph 6.8 of the report;

(6)     to approve the £60,000 allocation and roll forward of £40,000 to 2019/20 from the Income Generating Fund at paragraph 6.10 of the report;

(7)     to approve the allocation of £47,500 from the Grants Reserve and £42,500 from the Community Housing Fund as per paragraph 6.11 of the report; and

(8)     to approve the waiver as detailed in paragraph 7.2 of the report.