8 * Council's Revenue and Capital Outturn 2009/10 PDF 220 KB
Additional documents:
Minutes:
Received a report from the Corporate Director of Finance and Commercial Services on the Council’s provisional revenue outturn for 2009/10, which is subject to final accounting entries.
The provisional General Fund position shows a net underspend of £4.4m against a net revenue budget of £151.2m (2.9%), improving the balance position from £3.7m at the start of the year to £8.1m. This represents a significantly improved position to that anticipated over the course of the year and has primarily been achieved as a result of the impact of expenditure controls introduced in October 2009, the focussed use of earmarked and other specific reserves and the receipt of a one-off VAT refund of approximately £1m. Also noted that capital expenditure for 2009/10 was £97.1m against the revised capital budget of £96.7m (100.4%) and the Housing Revenue Account (HRA) generated a surplus of £2.6m, bringing the ring-fenced HRA balance from £0.762m at the start of the year to £3.38m.
The Strategic Finance Controller also advised on the proposed allocation of funding from the contingency budget for 2010/11 and agreed to provide Members with a briefing paper on the reduction in the non-HRA Private Sector Households budget for 2010/11 which reflects the spending brought forward to 2009/10.
Agreed, as a matter of good financial practice, to:-
(i) Note the outturn and balances position of the Councils General Fund revenue budgets for 2009/10;
(ii) Approve the transfer of earmarked and specific reserves to and from the General Fund balances as detailed in paragraph 2.3 of the report;
(iii) Approve the final in-year budget adjustments as set out in paragraph 3.4 of the report;
(iv) Note the outturn and balances position of the Housing Revenue Account as set out in paragraph 5 of the report;
(v) Note the outturn position for the 2009/10 Financial Health Indicators as set out in paragraph 6 and Appendix B of the report;
(vi) Note the outturn position of the Council’s Capital Programme as set out in paragraph 7 of the report;
(vii) Approve the capital budget adjustments as set out in paragraph 7.8 of the report;
(viii) Approve the carry forward items from the 2009/10 Capital Programme to be incorporated into the 2010/11 and future years capital programme subject to a final review by the Corporate Director of Finance and Commercial Services as detailed in Appendix D of the report;
(ix) Approve the roll back of 2010/11 funding to meet 2009/10 Capital Programme costs incurred ahead of schedule as detailed in Appendix E of the report;
(x) Approve the appropriate rephasing of 2010/11 to 2012/13 capital budgets where expenditure is out of line with actuals;
(xi) Note the outturn position for the 2009/10 Prudential Indicators as set out in paragraph 8 and Appendix F of the report; and
(xii) Approve the 2010/11 budget virements from contingency as detailed in paragraph 4.1 of the report as follows:
Adult & Community Services department
a) the increased costs of concessionary fares (£1m).
b) Free access to leisure for pensioners (£130,000)
Children’s Services