This report provides an update on the Revenue Budget position of the Council and the Reserve Funds at the end of December 2014.

In accepting the recommendations, Cabinet will approve and recommend to Council the budget surplus of £1,357 at paragraph 3.2 of the report; the use of funds from the one-off fund at paragraph 6.4 of £5,000 and the use of funds from the Economic Development fund at paragraph 6.3 of £65,200.

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 2014.

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 that Council:-

(1)     approves the budget surplus of £1,357 as set out at paragraph 3.2 of the report;

(2)     approves the use of funds from the One-Off Fund as set out at paragraph 6.4 of the report of £5,000; and

(3)     approves the use of funds from the Economic Development fund as set out at paragraph 6.3 of the report of £65,200.