Corporate Budget Performance - Period 6
Decision Maker: Cabinet
Decision status: Item Called In
Is Key decision?: Yes
Is subject to call in?: Yes
Cabinet considered a report of the Executive Director (Finance and Resources) providing an overview of the corporate budget performance.
The Council could choose to monitor its budgetary performance against an alternative timeframe but it is considered that the current reporting schedule provides the appropriate balance to allow strategic oversight of the budget by Councillors and to also formally manage the Council’s exposure to financial risk. More frequent monitoring is undertaken by officers and considered by individual service Directors and the Council’s Corporate Management Team (CMT) including the implementation of any necessary remedial actions.
Reasons for Decision:
1. The regular reporting of Revenue and Capital Budget Monitoring information provides detailed financial information to Councillors, senior officers and other interested parties on the financial performance of the Council. It sets out the key variances being reported by budget holders and the associated management action being implemented to address any identified issues.
2. It also informs decision making to ensure that the Council’s priorities are delivered within the approved budget provision.
3. It is important that any adverse variances are addressed in order for the Council to remain within the approved budget provision or where this cannot be achieved by individual service management action, alternative proposals are developed and solutions proposed which will address the financial impact. Councillors will have a key role in approving any actions if the alternative proposals represent significant changes to the service delivery arrangements originally approved by them.
Note: This is a Council Function
Eligible for call in to: Policy and Resources Scrutiny Committee
Cabinet Member: Cllrs Gilbert and Woodley
Report author: Joe Chesterton
Publication date: 08/11/2019
Date of decision: 05/11/2019
Decided at meeting: 05/11/2019 - Cabinet
Issue status: The decision is currently being reconsidered
This decision has been called in by:
- Councillor Tony Cox who writes for consideration by Policy & Resources Scrutiny Committee"
- Councillor Meg Davidson who writes for consideration by Policy & Resources Scrutiny Committee"