This report provides an update on the revenue budget position of the Council and the reserve funds at the end of September 2018.

In accepting the recommendations, Cabinet will approve and recommend to Council that the budget remains at £8,096,170 as detailed in paragraph 3.2 of the report; the allocation from the One-Off fund at paragraph 6.7 of the report of £35,770; and the allocation of £1,500 from the Economic Development Fund at paragraph 6.3 and to note the remaining balance at paragraph 6.4 of the report is £580,199.

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 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 remains at £8,096,170 as detailed in paragraph 3.2 of the report;

(2)     the allocation from the One-Off fund at paragraph 6.7 of the report of £35,770; and

(3)     the allocation of £1,500 from the Economic Development Fund at paragraph 6.3 and to note the remaining balance at paragraph 6.4 of the report is £580,199.