Decision details

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

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).

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

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.