To report the forecast financial position for both revenue and capital to 31 March 2011 and provide an update on Directorates’ recovery plans instigated to address projected overspends.

The report also provides information on treasury management activities in the first four months of 2010/11.

THAT

a)      the report and the forecast deficit position of £1.9 million be noted; and

b)     the Chief Executive’s requirement that Directors deliver recovery plans to ensure a balanced revenue budget be noted.

To ensure Cabinet is informed of the forecast outturn and receive assurance that officers take appropriate action as necessary to ensure a balanced outturn position is delivered.  To ensure there is the appropriate use of virements to fund the revenue deficits and the reprofiling of capital funding where schemes have slipped into 2011/12.

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

There are no alternative options.