Issue - meetings

Report of the Cabinet Member for Resources detailing the general fund and housing revenue account outturn 2018/2019. 

RESOLVED that Council:

(i)  Notes the final General Fund outturn for 2018/19 detailed in paragraphs 5 and 6 is a balanced position following the transfer to earmarked reserves.

(ii)  Notes the performance of individual Portfolios in managing their budgets as set out in table 1 of this report and notes the significant variances highlighted in Appendix 1.

(iii)  Notes that the level of General Fund balances at 31 March 2019 was £10.07M and the level of earmarked reserves was £88.67M (at paragraphs 21 to 23 and Appendix 2).

(iv)  Agrees the budget carry-forward requests totalling £2.92M as detailed in paragraph 7 and Appendix 3.

(v)  Notes the accounts for the Collection Fund in 2018/19 as detailed in paragraphs 8 to 14 and in Appendix 4.

(vi)  To note the HRA revenue outturn for the financial year 2018/19, as set out in paragraphs 18 to 20 and in Appendix 5 and 6.

(vii)  To note the performance of the Property Investment Fund (PIF) as detailed in paragraphs 25 to 27 and Appendix 7.

(viii)  Notes that the benefit derived from participation in the business rate pilot scheme (as part of the Solent Region pilot alongside the Isle of Wight and Portsmouth) during 2018/19 was £3.52M as detailed in paragraph 24.