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.