Issue - meetings

Quarterly Budget Monitoring - Quarter 3 - September to December 2010

Meeting: 15/03/2011 - Executive (Item 194)

194 Quarterly Budget Monitoring - Quarter 3 - September to December 2010 pdf icon PDF 80 KB

To provide Members with an overview of the budget, including the achievement of approved savings as at the end of Quarter 2, 2010/11.

 

(Report attached)

Additional documents:

Minutes:

Members considered a report which gave an overview of the General Fund budget, including the achievement of approved savings for the period April - December 2010.

 

Officers reported that the financial position of the Revenue budget for the period April – December 2010 showed an underspend of £815k against an estimated target of £315k.  The main reasons for the underspend were:

 

·        vacant posts;

·        lower than anticipated borrowing costs; and

·        success in reclaiming previously paid VAT.

 

RESOLVED that

 

the report be noted.