Issue - meetings

Further to Minute 4 (23 May 2017), the Cabinet Member for Finance, Growth and Investment introduced a report on the Council’s final revenue and capital outturn position for 2016/17.

The Cabinet Member advised that the revenue position was largely unchanged from the provisional position reported last month, with some minor corrections and adjustments improving the position by £0.087m to give a year-end overspend of £4.853m.  The General Fund reserve, taking into account the overspend and transfers between reserve budgets, was at £19.3m while the Housing Revenue Account produced a surplus of £2.186m, of which £0.266m would be used as a contribution to the Capital Programme and £1.920m transferred to the HRA reserve.

The Dedicated Schools Grant showed a year-end deficit of £5.773m, mostly attributable to Schools’ balances, while the Capital Programme outturn was £173.070m against the revised budget of £184.662m.  In respect of the latter, the Cabinet Member referred to a number of carry-forward and reprofiling requests relating to capital projects as well as similar arrangements in respect of a number of revenue budgets.

The Cabinet resolved to:

(i)  Note the outturn position for 2016/17 of the Council’s General Fund revenue budget and Housing Revenue Account as at 31 March 2017, as detailed in section 2 and Appendix A of the report;

(ii)  Approve the requests for carry forwards and transfers to and from reserves as set out in Appendix B of the report;

(iii)  Note the outturn for the Dedicated Schools Grant at 31 March 2017 as detailed in section 3 of the report;

(iv)  Note the outturn position for 2016/17 of the Council’s capital budget at 31 March 2017, as detailed in section 4 of the report;

(v)  Approve the requests for capital carry forwards and the reprofiling of the 2017/18 Capital Programme as set out in section 4 and Appendix C of the report; and

(vi)  Note the position of the Council’s General Fund and other reserves at 31 March 2017, as set out in Appendix D of the report.