THAT:

                     (a)          Cabinet noted the report and the forecast position;

(b)             Cabinet noted that the Leadership Team have undertaken to deliver a further level of savings for 2012/13; and

(c)             Taking account of recommendation (b) Cabinet noted the requirement that Directors deliver recovery plans to ensure a balanced revenue budget; and

(d)             Cabinet noted the mid-year Treasury Management report at Appendix C to the report.