This report provides an update on the revenue budget position of the Council (revenue and reserve funds) at quarter 3, the end of December 2013.

In accepting the recommendations, Council will be asked to approve the budget adjustments at paragraph 3.2 of the report which total a budget increase of £127,240 to £7,619,630 in 2013/14; remove income of £71,637 from the one-off fund in relation to the homelessness grant no longer received as detailed in paragraph 6.2 of the report; allocate £83,000 from the new homes bonus reserve for the empty properties review as detailed in paragraph 6.7 of the report and note all movements in the reserves as detailed in paragraphs 6.2 to 6.6 of the report.

The subject of the decision:

This report provided an update on the revenue budget position of the Council (revenue and reserve funds) at the end of December 2013.

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 adjustments at paragraph 3.2 of the report which total a budget increase of £127,240, to £7,619,630 in 2013/14 be approved;

(2)     income of £71,637 be removed from the One-Off Fund in relation to the homelessness grant no longer received as detailed in paragraph 6.2 of the report;

(3)     the allocation of £83,000 from the new homes bonus reserve for the empty properties review as detailed in paragraph 6.7 of the report be approved; and

(4)     all movements in the reserves be noted as detailed in paragraphs 6.2 to 6.6 of the report.