The report of the Head of Treasury Services was submitted, informing Members of the overall projected financial position of the General Fund Revenue Budget after three months, for the 2008-2009 financial year.
Scrutiny Committee – Resources considered the report at their meeting on 17 September 2008 and the support and comments of Members were noted.
The Head of Treasury Services identified the main variances, details of which were reported to the Scrutiny Committees through stewardship reports. He reported that the largest debt related to recovering housing benefit which often involved court processes such as attachment of earnings over a protracted period.
Members were pleased to note the forecast underspend of only 0.1% against the revised budget of £19,533,140 after three months and the healthy forecast General Fund Working balance.
RESOLVED that the forecast financial position for the 2008-2009 financial year and the outstanding Sundry Debt position for the first quarter of 2008-09 be noted.
(Report circulated)