The Deputy Chief Executive submitted a report setting out the Council’s projected financial position for 2014/2015 at the half way stage of the financial year, together with the measures being put in place to reduce the current projected level of overspend.
The Deputy Chief Executive provided an update to the Board and indicated that the draft month 7 figures currently showed an improved position of between approximately £2–3 million.
Officers undertook to provide Board members with a written response to a specific enquiry raised in relation to matters regarding the New Homes Bonus.
Members noted the current projected level of overspend and the associated level of risk to the Council, and it was highlighted that the budget setting process for 2015/16 would present even greater challenges to those of recent years.
RESOLVED – Thatthe projected financial position of the authority after six months of 2014/15 be noted, together with the measures which are being put in place,as detailed within paragraph 3.3.4 of the submitted report.