Decision details

The report presents the revenue and capital outturn for 2014/15, highlighting an underspend of £54,000. This represents a significant achievement in the context of the government’s public sector deficit recovery plan which resulted in a revenue savings requirement of over £10 million for 2014/15.

The report refers to requests to carry forward specific revenue budget items to 2015/16 and to write-off revenue overspends where recovery in future years would have an adverse impact on continuing service delivery.

The report also refers to requests to re-phase specific capital budget items to 2015/16 and to remove net capital underspends.

RESOLVED (unanimously) that:

1)  The revenue budget outturn underspend of £54,000 for 2014/15 is noted.

2)  The revenue carry forward proposals and write-off requests listed in the report are approved.

3)  Transfers to Earmarked Reserves are agreed as set out.

4)  The revenue virements for 2014/15 are approved.

5)  The resulting reserves position shown in the report is noted and that unearmarked reserves remain at the target level of £10.5m (excluding Invest to Save drawdowns).

6)  The provisional outturn of the 2014/15 capital programme, and the funding as laid out in the report, are noted.

7)  The capital re-phasing and write-off of net underspends are approved.

8)  The adjustments to the 2014/15 to 2019/20 capital programme, and the final capital programme for 2014/15 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 of the report lists all options that can be considered in making a decision on carry forwards and write offs relating to the revenue outturn position.