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V25-1409 : REVENUE BUDGET 1998/99

The report of the Director of Central Services compared the draft budgets for 1997/98 (revised) and 1998/99 against the earlier forecasts and government constraints.

The 1997/98 revised budget showed a saving of £175k, principally due to improved borrowing costs and income figures. The 1998/99 budget showed an increase of £96k and could be contained within government constraints by taking £274k from reserves. The remaining reserve of nearly £1.5m at 31 March 1999 was above the recommended minimum.

Further changes to the budgets were likely as a result of review by the service committees and further checks and reports. The position could then be reviewed at the next meeting of this Committee on 27 January 1998.

RESOLVED

That the report of the Director of Central Services be received, and the budget position reviewed at the next meeting of the Committee on 27 January 1998.

Volume 25 Minute 1409

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