Issue - meetings

Further to Minute 3 of the last meeting, the Cabinet Member for Finance, Growth and Investment introduced a report on the final revenue and capital outturn position for the 2015/16 financial year.

The Cabinet Member confirmed that the position remained unchanged from the provisional outturn reported to the last meeting, with the exception of the incorporation of £0.1m of revenue transactions of Barking & Dagenham Reside Limited into the Council’s accounts following external advice from the Council’s external auditor and a further £0.04m from Barking & Dagenham Reside (Abbey Road). 

Arising from the discussions, officers confirmed that the funding for the Creative Industries project within the Capital Programme related to the Ice House Quarter refurbishments, where 7 of the 11 units had now been taken up.

Cabinet resolved to:

(i)  Note the final outturn position for 2015/16 of the Council’s revenue budget, as detailed in paragraph 2.1 of the report;

(ii)  Agree to transfer the surplus of £0.14m generated by Barking and Dagenham Reside Ltd and Barking and Dagenham Reside (Abbey Road) to an earmarked reserve, as detailed in paragraph 2.3 of the report;

(iii)  Note the final outturn position for the Housing Revenue Account, as detailed in paragraph 2.2 of the report; and

(iv)  Note the final outturn position for 2015/16 of the Council’s capital budget and approve the re-profiled budget for 2016/17, as detailed in paragraphs 4.1 and 4.2 and Appendix A of the report.