Issue - meetings

The Cabinet Member for Finance, Revenues and Benefits presented a report on the Council’s provisional revenue and capital outturn position for the 2010/11 financial year. 

The provisional outturn position for General Fund budgets showed a net underspend of £2.776m against the total budget of £154.771m, resulting in an improved year-end balance position of £10.841m.  This represented a significant improvement on the forecast position reported throughout the year and was achieved against the backdrop of the additional in-year savings of £8m required by the new Government’s Emergency Budget.  Cabinet placed on record its appreciation of the efforts of all concerned in helping to achieve this position.

The Cabinet Member referred to the departmental breakdown of the revenue budgets and confirmed that he would be holding further meetings with management to discuss the areas of overspend in the Customer Services department, which increased to £727,000 at the year-end.

The Housing Revenue Account achieved a surplus of approximately £1m and expenditure on capital projects was £102.9m, representing 89% expenditure against the total budget of £115.6m.

Cabinet noted:-

(i)  The provisional revenue outturn and the General Fund balance position at 31 March 2011 as detailed in sections 2 and 3 of the report;

(ii)  The provisional outturn and balances of the Housing Revenue Account as referred to in section 4 of the report; and

(iii)  The provisional outturn position of the Council’s Capital Programme, as detailed in section 7 of the report

(The Chair agreed that this item could be considered at the meeting as a matter of urgency under the provisions of Section 100B(4)(b) of the Local Government Act 1972.)