Issue - meetings

To consider the report of the Cabinet Member for Finance.  The purpose of this report is to summarise the overall General Fund & Housing Revenue Account revenue outturn for 2016/17. It compares actual spending against the revised budget approved at Council in February 2017 adjusted for approved changes made since that date.  The report also considers any requests for carry forwards and the allocation of funds for corporate purposes or other additional expenditure, attached. 

The report of the Cabinet Member for Finance was submitted summarising the overall General Fund and Housing Revenue Account revenue outturn for 2016/17.  It compares actual spending against the revised budget approved at Council in February 2017 adjusted for approved changes made since that date.  The report also considers any requests for carry forwards and the allocation of funds for corporate purposes or other additional expenditure. 

RESOLVED to:

(i)  Note the final General Fund outturn for 2016/17 detailed in Appendix 1 is a balanced position following the transfer to earmarked reserves and the revenue grants reserve totalling £4.97M as noted in paragraph 7.

(ii)  Note that the level of General Fund balances at 31 March 2017 was £11.3M.

(iii)  Note the performance of individual Portfolios in managing their budgets as set out in paragraph 8 of this report and notes the major variances in Appendix 2.

(iv)  Approve the carry forward requests totalling £0.13M and as outlined in paragraph 16.

(v)  Note that £0.8M has been transferred to the Revenue Grants Reserve as detailed in paragraph 15.

(vi)  Note the accounts for the Collection Fund in 2016/17 as detailed in paragraphs 24 to 31 and in Appendix 4.

(vii)  To note the HRA revenue outturn for the financial year 2016/17, as set out in Appendix 5, and the working balance at the end of the year of £3.0M.