Councillor Max Schmid gave a brief introduction outlining the slight improvement on the previous Month 2 report, presented at Cabinet in September. Having an underspend in the midst of a pandemic and continuing Government austerity was truly astounding. He congratulated officers for achieving such an accomplishment and for delivering high quality services while maintaining ruthless financial efficiency .
The Leader stated that since 2010 the Council’s budget had been reduced by one third. Therefore, he thanked the finance and the senior management teams for producing consistent balanced budgets and saving a vast amount of money while improving and extending the number of services provided. This had been done by eliminating wastage and bureaucracy to deliver cutting-edge services.
AGREED UNANIMOUSLY BY THE CABINET MEMBERS PRESENT:
1. To note General Fund forecast underspend of £2.260m.
2. To note that the forecast draw down from the Housing Revenue Account general balance will be £0.320m less than budgeted.
3. To note the in-year Dedicated Schools Grant overspend of £1.810m.
4. To approve the General Fund virement of £0.310m as detailed in Appendix 9.