£000

2007/08 Budget requirement

598,223

Less contribution to balances

4,963

593,260

Subsequent amendment to cash limit for variations in contribution to balances:

Additional spending on Rowner regeneration scheme and on various grants approved by the Cabinet in June 2007

1,800

Carry forward of unspent building maintenance contingency in 2006/07

32

Use of balances not required to fund additional schools expenditure in 2006/07.

328

Carry forward of Hantsdirect contingency to 2008/09

-120

Additional LABGI grant earmarked for use for Economic development in 2008/09 and 2009/10

-210

Adjusted 2007/08 cash limit

595,090

Cash-limit

Revised budget

Variation

£000

£000

£000

Service cash-limited expenditure:

Adult Services

273,777

272,957

-820

Children's Services

881,815

881,815

-

Environment

109,984

109,004

-980

Policy and Resources

56,590

55,960

-630

Recreation and Heritage

32,315

32,315

-

1,354,481

1,352,051

-2,430

Non cash-limited expenditure:

Flood Protection levies

423

512

89

Capital financing charges (including interest on balances)

41,829

35,505

-6,324

Revenue contributions to capital

30,176

30,176

-

Specific grant

-838,512

-838,922

-410

Inflation and central contingencies

14,509

13,827

-682

Landfill allowance sales

-1,445

-1,123

322

Transfer to/(from) earmarked reserves:

As per adjusted budget

-6,371

-6,371

-

Interest on Pay and benefits reserve

-

2600

2600

Planned service underspendings

-

2,430

2,430

Landfill allowance sales

-

-322

-322

595,090

590,363

-4727

£000

Planned service underspendings carried forward within earmarked reserves to 2008/09

-

Higher flood protection levies

89

Addition LABGI grant received net of additional spending on Economic development in 2008/09 and 2009/10

-410

Lower landfill allowance (£322,000) sales, matched by reduced reserve contribution (-£322,000)

-

Lower interest rates than forecast

-690

Higher business rates than budgeted

8

Additional interest on revenue balances (-£5m), offset by interest allocated to pay and benefit reserve (£2.6m)

-2,400

Lower capital financing costs as a result of slippage in capital expenditure in 2006/07

-1,324

-4,727