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 2016.

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 3.2 of the report in Quarter 1 of £240,240 which results in a budget of £7,571,130 be approved;

(2)     the allocation from the One-Off Fund at paragraph 6.6 of the report of £81,751 be approved; and

(3)     it be noted that the Economic Development Fund remaining balance to be allocated at paragraph 6.4 of the report is £73,819.