Agenda item

The report presents the provisional revenue and capital outturn for 2011/12, highlighting an underspend of £253,000 or 0.1% of the Council’s gross revenue budget, a significant achievement in the current financial climate and in a year in which £11m of savings were delivered by the Council.  It refers to requests to carry forward specific revenue budget items to 2012/13, transfers to earmarked reserves and to write-off revenue overspends where recovery in future years would have an adverse impact on continuing service delivery.  It also refers to requests to re-phase specific capital budget items to 2012/13 and to write off net capital underspends.

Councillor David Bellotti moved the recommendations.

Councillor David Dixon seconded the proposal.  He said that it had been a challenge taking over another administration’s budget.  He had been concerned that the Cabinet had inherited some unfunded promises but a lot of hard work had been done by officers to overcome this and to reflect the new objectives.

On a motion from Councillor David Bellotti, seconded by Councillor David Dixon, it was

RESOLVED (unanimously)

(1) To NOTE the provisional revenue budget underspend of £253K for 2011/12 as set out in the report;

(2) To APPROVE the revenue carry forward proposals and write-off requests listed in Appendix 4;

(3) To AGREE the Transfers to Earmarked Reserves as set out in the Appendix 1;

(4) To APPROVE the revenue virements for 2011/12 and 2012/13 as listed in Appendices 6(i) and 6(ii);

(5) To NOTE the resulting reserves position shown in Appendix 1 and that unearmarked reserves remain at the target level of £10.5m.

(6) To NOTE the provisional outturn of the 2011/12 capital programme in Appendix 7, and the funding as laid out in the table in Appendix 1;

(7) To APPROVE the capital rephasing and write-off of net underspends as listed in Appendix 8; and

(8) To NOTE the adjustments to the 2011/12 to 2016/17 capital programme as detailed in Appendix 10, and the final capital programme for 2011/12 in Appendix 9.