Minutes:
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.
Supporting documents: