Decision details

Revenue & Capital Outturn 2017/18

Decision Maker: Cabinet

Decision status: Approved

Is Key decision?: No

Is subject to call in?: Yes

Purpose:

This report presents the provisional revenue and capital outturn for 2017/18, with some recommended technical adjustments.

Decision:

RESOLVED (unanimously) that the Cabinet agreed to:

 

1)  Notes the revenue budget outturn over budget of £1.255m (including carry forwards) for 2017/18 and the funding mitigations used;

2)  Approves the carry forward requests outlined in paragraphs 5.5;

3)  Approves that all over budgets are written-off as an exception to the Budget Management Rules for 2017/18.

4)  Notes the revenue virements for 2017/18 reported for information in Appendix 2(i)

5)  Notes the reserve positions and the use of flexible capital receipts shown in paragraphs 5.15-5.17;

6)  Notes the outturn position of the 2017/18 capital programme in paragraph 5.23, and the funding outlined in paragraph 5.25;

7)  Notes the further use of CIL funding in 2017/18 outlined in paragraph 5.26;

8)  Approves the capital rephasing and write-off of net underspends as listed in Appendix 3. This reflects the outturn spend position on projects against final budgets as detailed in Appendix 4(ii).

Reasons for the decision:

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

Alternative options considered:

The option to carry forward over budgeted spend could be considered which would mean that services would have to make up any deficits in 2018/19 with a considerable impact on service delivery especially in Adult and Children’s Services.

A further option would be to not approve the service carry forward requests which would reduce the overall over budget position by £155k. However, this may lead to further budget pressures in 2018/19.

Report author: Gary Adams

Publication date: 27/06/2018

Date of decision: 27/06/2018

Decided at meeting: 27/06/2018 - Cabinet

Effective from: 05/07/2018

Accompanying Documents: