Contact: Anne Hibbert, (01962) 847533; [email protected]

1 Summary

1.1 This report is the second budget monitoring report for Policy and Resources for 2006/07.

1.2 At the end of October 2006 the main pressures to be managed in order to meet savings targets and keep within cash limit relate to Property and Regulatory Services, and continuing management action will be required to manage budget pressures across all services.

1.3 Capital payments for the County Council during the first four months of the financial year were significantly higher than would be expected on the basis of a normal profile. However, the rate of spending has reduced in the last three months. A detailed review of each scheme is in progress in order to identify any action required to manage the outturn position.

1.4 Decisions required:

(a) That the current position on the monitoring of the Policy and Resources revenue budget and capital programme be noted.

(b) That the use of prudential borrowing for IT investment of £5.9m in 2006/07 be approved.

2 Reason(s)

2.1 Budget monitoring reports are submitted regularly to the Executive Member to review whether any action is required to deal with variations between planned and actual spending. The Policy and Resources revenue budget and capital programme includes financial resources for a range of direct services and for central services that support all other County Council services and as such contribute to each priority of the corporate strategy.

3 Other options considered and rejected:

3.1 Not applicable.

4 Conflicts of interest declared by the decision maker or other Executive member consulted - none

5 Dispensation granted by the Standards Committee - none

6 Reason(s) for the matter being dealt with if urgent - none

Approved by: (signature) Date: (date of decision)

Councillor T K Thornber

Executive Member for Policy and Resources Date: (date of decision)