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 2019.

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 £9,085,870 as detailed in paragraph 3.2 of the report;

(2)     the total movement of the Economic Development Fund of £117,683 at paragraph 7.3 of the report to be allocated and to note that the Economic Development Fund remaining balance to be allocated at paragraph 7.4 of the report is £665,485;

(3)     the allocation from the One Off Fund at paragraph 7.6 of the report of £461,837; and

(4)     to note the waiver of procurement rules at paragraph 8.2 of the report.