This report provides an update on the revenue budget position of the Council and the reserve funds at the end of June 2014.

In accepting the recommendations, Cabinet will approve and recommend to Council that it approves the budget decrease at paragraph 3.2 of the report by £227,821 to £7,241,329 and approves the allocation from the One-Off Fund at paragraph 6.6 of the report of £302,129.

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 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 to Council:

(1)        the budget decrease at paragraph 3.2 by £227,821 to £7,241,329; and

(2)        the allocation from the one-off fund at paragraph 6.6 of £302,129.