Decision details
Quarterly Budget monitoring report to end November 2013
Decision status: Deleted
Is Key decision?: No
Is subject to call in?: Yes
Purpose:
To note the report.
Decision:
RESOLVED THAT
- The contents of this report including the key projected variances to the 2013/14 budget and the projected total budget saving of £444,600 be noted.
- It be recommended to Council that in principle, as part of the 2013/14 revised budget report to Council in February 2014, that this projected budget saving be used to fund the following expenditure:
- A new earmarked reserve of £200k to be set aside to support the new Cheltenham Leisure and Culture Trust should any unforeseen deficits arise in the early year’s of trading (paragraph 2.13).
- Additional one off funding of £150k to support the creation of the Cheltenham Leisure and Culture trust in 2014/15 (paragraph 2.14).
- The remaining underspend of £94,600 to be transferred to a newly created car parking equalisation reserve to support the expected shortfall in income due to the imminent closure of North Place and Portland Street car parks. (paragraph 2.5).
- That the budget virements to the 2013/14 budget, as detailed in Appendix 4 be approved.
Report author: Mark Sheldon
Publication date: 15/01/2014
Date of decision: 14/01/2014
Decided at meeting: 14/01/2014 - Cabinet
Effective from: 24/01/2014
Accompanying Documents: