Decision details

This report provides the Executive with details of the actual revenue expenditure for 2012/13 and seeks approval for the completion, in 2013/14, of the 2012/13 expenditure programmes set out in the briefing paper contained in the report.

The General Fund actual revenue expenditure for 2012/13 totals £9,562,675 which represents an overall saving of £895,825 compared to the revised budget.

With financing adjustments the overall saving for 2012/13 is £883,949. It has not been possible to complete a number of expenditure programmes in 2012/13 and approval is sought to complete these programmes, totalling £299,800, in the current year.

When the use of the saving in 2012/13 to complete these programmes is taken into account the net saving for the year is reduced to £426,649.

The revenue budget report to the Executive on 7 January 2013 highlighted that the Council's spending reserve should be 5% of gross expenditure budget for each financial year. On this basis, the minimum required balance on the reserve for 2013/14 is £2.238million. Any surplus over and above this figure will be dealt with as part of the medium term financial strategy during the budget setting process.

Full details are set out in the briefing paper contained in this report.

RESOLVED that the Executive:

(a)       approves completion of the expenditure programmes contained within the report; and

(b)       notes the contents of the report.