Decision details

This report presents the provisional revenue and capital outturn for 2016/17, with some recommended technical adjustments.

RESOLVED (unanimously) that the Cabinet agreed to:

2.1  The revenue budget outturn overspend of £2.221m for 2016/17 as set out in Appendix 2 is noted.

2.2  The revenue carry forward proposals and write-off requests listed in the tables in Appendix 4 are approved.

2.3  Transfers from Earmarked Reserves to fund the revenue overspend are agreed as set out in Appendix 1 paragraph 1.8.

2.4  The revenue virements for 2016/17 reported for information in Appendix 6(i) are noted.

2.5  The resulting reserves position shown in Appendix 1 paragraph 1.10 is noted and that unearmarked reserves remain at the target level of £13.5m (excluding Invest to Save drawdowns).

2.6  The provisional outturn of the 2016/17 capital programme in Appendix 7, and the funding as laid out in the table in Appendix 1 Paragraph 1.20, is noted.

2.7  The capital rephasing and write-off of net underspends as listed in Appendix 8 are approved. This reflects the outturn spend position on projects against final budgets as detailed in Appendix 9.

2.8  The adjustments to the 2016/17 to 2021/22 capital programme as recorded in Appendix 10, and the final capital programme for 2016/17 in Appendix 9 are noted.

The recommendations made are based upon the Budget Management Scheme and a consideration of the Council’s latest financial position and reserves strategy.

Appendix 4 lists all options that can be considered in making a decision on carry forwards and write offs relating to the revenue outturn position.