Decision Details

Update on the Revenue, Capital & Treasury Management financial position.

N.B. - Originally registered on the Forward Plan as 006759/2020

Revenue in excess of £500k

Capital in excess of £1m

On 11 February 2020, Cabinet:-

1. Noted the City Council’s 2019/20 forecast revenue budget position and the pressures and savings identified as at 31st December 2019 resulting in a forecast underspend of £1.5m;

2. Noted the latest monitoring position in respect of the City Council’s savings programme and the present risks identified in its delivery;

3. Approved the resource allocation within General Policy Contingency as set out in paragraph 3.4 to the report;

4. Approved the proposed allocation of grant as set out in paragraph 3.5 to the report;

5. Approved the transfer to Reserves from Specific Policy Contingency as set out in paragraph 3.6 to the report;

6. Approved the proposed changes in uses of and contributions to Reserves as set out in paragraph 3.7 to the report;

7. Approved the writing off of debts over £0.025m as described in paragraph 3.8 to the report;

8. Approved the purchase of shares as described in paragraph 3.9 to the report;

9. Approved the revised 10 year+ capital programme of £3,376.9m;

10. Noted the forecast capital expenditure in 2019/20 of £502.5m;

11. Noted the Treasury Management and Investment Property Portfolio reports.