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Decision details

FINANCIAL MONITORING: MONTH 4 (JULY)

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Decision:

Cabinet:

(1)          noted the projected revenue expenditure position of a balanced budget as at month 4 as mitigating management actions are taken to reduce the increasing pressure;

(2)          agreed the savings proposals detailed in Appendix 1 of the report;

(3)          noted the capital financial position at month 4, as detailed in Appendix 2 of the report;

(4)          noted a budget allocation of £185,000 to fund the development of the 2030 Strategy and £50,000 to facilitate a Citizen Assembly programme, which will both be funded from the Investment fund.  This investment will deliver an analytically robust and detailed evidence base that sets out what the borough could look like by 2030;

(5)          noted a budget allocation of £118,700 to fund a temporary new bar and venue on the EMD cinema site in Walthamstow.  This will be funded from the Investment fund and as a result of the projected receipts anticipated from the venue, it will be cost neutral; and

(6)          noted a budget allocation of £229,000 to fund the development of a full business case for the delivery of the Facilities Management Service.  This will be funded from the Investment fund.

 

OPTIONS & ALTERNATIVES CONSIDERED

Much of this report is concerned with provision of information, for which alternative options is not a relevant consideration.

 

Publication date: 05/09/2019

Date of decision: 05/09/2019

Decided at meeting: 05/09/2019 - Cabinet

Accompanying Documents: