To report December’s budget monitoring information and provide an indication of estimated outturn for both revenue and capital to 31 March 2010.  This includes approval of virements set out in Appendix A which are required to fund service deficits. The report also focuses on treasury management activities in the first nine months of 2009/10.

THAT Cabinet:

a)      note the report and its approach to delivering a balanced outturn position at year end; and

b)        approve the transfer of the Winter Maintenance Reserve to Highways to support expenditure incurred as a result of recent bad weather.

1.         To ensure Cabinet is informed of the forecast outturn for 2009/10, and supports actions as necessary to ensure a balanced outturn position is delivered, including use of virements to fund the revenue deficits and reprofiling of capital funding where schemes have slipped into 2010-11.

2.         To ensure that Cabinet is kept informed of treasury management activities in accordance with CIPFAs recommended best practice.

There are no alternative options.