Issue - meetings

To consider a report of the Executive Councillor (Finance)

The report provides an update on the 2011/12 revenue budget position as at 30 June 2011. At the end of the first quarter there is a forecast cash limit surplus of £0.967m. Each Portfolio’s forecast position is described more fully in section three of the report. In the main, this position is largely due to vacancy management and efficiencies within Services for Young People and a surplus within the Supporting People Programme offset by a deficit on the car parking service within the Transportation Portfolio.

Non-cash limits currently forecast a balanced position.  Further details are contained in section four of the report.

Most remaining Portfolios are currently reporting a break-even position for the year although there are some underlying pressures within the Adults and Health Portfolio which it is considered can be contained in the short term through the use of Earmarked Reserves.

The Executive is recommended to:

·                approve the virements and budget adjustments set out in Appendix Two of the report.

·                note the forecast cash limit and non-cash limit outturn positions for 2011/12;

·                agree the approach to managing cash and non-cash limit surpluses and deficits set out in this report; and

·                approve the proposed contributions to/from earmarked reserves as described in section 8 of this report.

Officer contact: Andy Moran, 0161 474 4086, andrew.moran@stockport.gov.uk

The Executive Councillor (Finance) submitted a report (copies of which had been circulated) inviting the Executive Meeting to consider the first quarter 2011/12 revenue budget position as at 30 June 2011. There was an overall forecasted cash limit surplus of £0.967m and a balanced position forecasted for non-cash limit budgets.

RESOLVED – That

(i)                 the virements and budget adjustments detailed in Appendix Two of the report be approved;

(ii)               the forecast cash limit and non cash limit outturn positions for 2011/12 be noted;

(iii)             the approach to managing cash and non-cash limit surpluses and deficits set out in the report be noted, and

(iv)             the proposed contributions to/from earmarked reserves as described in Section 8 of the report be approved.