Issue - decisions

Quarterly Budget monitoring report to end November 2013

 

 

15/01/2014 - Quarterly Budget monitoring report to end November 2013

RESOLVED THAT

 

  1. 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.

 

  1. 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).

 

  1. That the budget virements to the 2013/14 budget, as detailed in Appendix 4 be approved.