This report provided an update on the Revenue Budget position of the Council and the reserve funds at the end of September 2017.

In accepting the recommendations, Cabinet will approve and recommend to Council that the budget remains at £7,210,600 as detailed in paragraph 3.2 of the report; the allocation from the One-off Fund at paragraph 6.6 of the report of £141,605; to approve the total amount of £26,570 at paragraph 6.3 of the report and note that the Economic Development fund remaining balance at paragraph 6.4 of the report is £763,112; and approve the transfer of £143,000 from the Council Tax Payers Reserve to the Local Plan Reserve to cover additoinl expenditure on the Local Plan in 2017/18.

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 2017.

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 £7,210,600 as detailed in paragraph 3.2 of the report;

(2)     the allocation from the One-Off Fund at paragraph 6.6 of the report of £141,605 be approved;

(3)     the total amount of £26,570 at paragraph 6.3 of the report be approved and the Economic Development fund remaining balance at paragraph 6.4 of the report of £763,112 be noted; and

(4)     the transfer of £143,000 from the Council Tax Payers Reserve to the Local Plan Reserve to cover additional expenditure on the Local Plan in 2017/18 be approved.