Decision details

Received a report on the Council’s provisional revenue and capital outturn position for the financial year 2006/07.

The final position for the Council’s General Fund revenue services highlighted an overall overspend of £94k, after carry forward requests from departments.

For the Housing Revenue Account, the final working balance showed a position of £1.7m which continued to demonstrate sound financial strength.

For Capital, the final position showed that £70.7m had been spent out of the original budgeted programme of £66m and a final working budget of £76.6m, which showed that considerable progress had been made in quicker capital delivery based on accurate profiling.

Agreed, as a matter of good financial practice, to:

1.  Note the final outturn position of the Council’s revenue budgets for 2006/07;

2.  Approve the use of the Council’s General Reserve balances to fund the small 2006/07 overspend;

3.  Note the position of the working balance for the Housing Revenue Account;

4.  Approve the carry forwards from the Revenue budget to be incorporated into the relevant 2007/08 Departmental budgets;

5.  Note the outturn position for the 2006/07 Financial Health Indicators;

6.  Note the final outturn position of the Council’s Capital programme;

7.  Approve the carry forward of categories A, B, D and E (i.e. committed and rolling programmes) from the 2006/07 Capital Programme to be incorporated into 2007/08 relevant service capital programmes and approve the carry forward of category C schemes (i.e. not yet contractually committed) subject to an appraisal through the CPMO process;

8.  Approve that the appropriate 2007/08 budgets be adjusted for advanced expenditure in 2006/07 of £1.5m; and

9.  Note the outturn position for 2006/07 Prudential Indicators.