To report the forecast financial position for both revenue and capital to 31st October 2011, and provide an update on directorates’ financial recovery plans.

THAT Cabinet:

                     (a)          Note the report and the forecast deficit position;

(b)             Note the Chief Executive’s requirement that Directors deliver recovery plans to ensure a balanced revenue budget; and

(c)             Note that the Leadership Team have undertaken to discuss a further level of savings for 2011/12.

To ensure Cabinet is informed of the forecast outturn and receive assurance that officers take appropriate action is being taken to ensure a balanced outturn position is delivered. 

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

There are no Alternative Options.