Contact: Nick Gibbins, (01962) 847544; [email protected]

1 Summary

1.1 In preparing the revenue budget for 2007/08, services were required to identify savings and redeployments of £21.4m in order to keep within their cash limits. After allowing for the use of contingencies and earmarked reserves totalling £2.5m, savings of £18.9m have to be implemented during the course of 2007/08. This report reviews progress in developing and implementing plans to achieve the required savings. The following decision is sought:

· to note good progress achieved in planning budget savings in 2007/08, with further monitoring reports being presented on a quarterly basis, to help within cash limits for the year.

1 Reason

1.1 The savings of £18.9m incorporated in the 2007/08 budget are equivalent to approximately 3.2% of service spending and therefore represent a challenging target to ensure that spending is contained within cash limits. Regular monitoring of progress is required to ensure that savings are being planned and implemented and that if the proposed savings are not likely to be achieved, that alternative savings options are being explored.

1.2 This review supports the outcomes in the Corporate Management Plan relating to value for money and resources following priorities.

2 Other options considered and rejected:

2.1 None

3 Conflicts of interest declared

None

4 Dispensation granted by the Standards Committee

4.1 None

5 Reason(s) for the matter being dealt with if urgent

5.1 Not applicable

Approved by: Date:
Councillor TK Thornber CBE - Chairman