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.