To report the forecast financial position for both revenue and capital to 31^st 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 six months of 2010/11.

The report also includes the number and amounts written off for individual debts exceeding £1,000 covering the period 1 April 2010 to 30 September 2010.

            THAT

a)      the report and the forecast deficit position of £2.4m be noted;

b)     the Chief Executive’s requirement that Directors deliver recovery plans to support delivery of balanced revenue budget be noted; and

c)      it be noted that 66 debts totalling £185k be written off.

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 demonstrate 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.