Issue - meetings

Further to Minute 3 of the last meeting, the Cabinet Member for Finance and Education presented a report on the Council’s final revenue and capital outturn position for the 2011/12 financial year.

The Cabinet Member referred to the expenditure summary by directorate and confirmed that the final position remained largely unchanged from the provisional position reported at the last meeting, with General Fund budgets showing a net underspend of £2m against the net revenue budget of £183.4m which gave an improved year-end balance position of £14.3m.  The Housing Revenue Account (HRA) surplus was £3.8m for the year, increasing the reserve to £8.2m at 31 March 2012, and the Capital Programme showed an outturn of £127.7m compared to the revised budget of £167.6m, with the underspends rolled forward to 2012/13 to enable the projects to be completed. 

Cabinet agreed:

  (i)  To note the final outturn position for 2011/12 of the Council’s revenue budget as detailed in paragraphs 2.3 to 2.10 and Appendix A of the report;

  (ii)  To note the final outturn against the 2011/12 savings targets as detailed in paragraph 2.11 and Appendix B of the report;

 (iii)  To note the final outturn position for the HRA as detailed in paragraph 2.12 and Appendix C of the report;

 (iv)  To note the final outturn position for 2011/12 of the Council’s capital budget as detailed in paragraph 2.13 and Appendix D of the report; and

  (v)  To note that the Central Expenses roll-forward, approved by Minute 3(vi) of the last meeting, had reduced by £58,125 following the finalisation of the accounts.