Issue - meetings

Report of the Deputy Section 151 Officer attached.

RESOLVED (Unanimously):

1.    Cabinet notes the report and appendices;

2.    Cabinet notes the final outturn position of £0.093m underspend against a revised revenue budget of £14,135m and the key variances;

3.    Cabinet notes the final outturn position on the capital budget of £0.476m underspend against an annual budget of £2.898m;

4.    Cabinet notes the financing of the capital programme for 2018/19 and approves the carry forward of the £0.486m of capital re-phasing into 2018/19 as outlined in this report;

5.    Cabinet notes the end of year position on reserves as a result of the outturn position and note the contributions to and withdrawals from these reserves as detailed within the report.

The Cabinet Member (Finance, Property and Assets), Councillor Matthew Tomlinson presented a report of the Deputy Section 151 Officer that informed of the 2018/19 Budget Outturn position in relation to both Revenue and Capital expenditure.

It was noted that the Capital Programme was diminished against previous years and although there was an acceptance that some monies have not been able to be spent, there was a commitment from the Cabinet Member that in future, if money was allocated, this needed to be recognised and achieved.

It was proposed by Councillor Matthew Tomlinson, seconded by Councillor Paul Foster, and

Decision made (Unanimously):

1.    Cabinet notes the report and appendices;

2.    Cabinet notes the final outturn position of £0.093m underspend against a revised revenue budget of £14,135m and the key variances;

3.    Cabinet notes the final outturn position on the capital budget of £0.476m underspend against an annual budget of £2.898m;

4.    Cabinet notes the financing of the capital programme for 2018/19 and approves the carry forward of the £0.486m of capital re-phasing into 2018/19 as outlined in this report;

5.    Cabinet notes the end of year position on reserves as a result of the outturn position and note the contributions to and withdrawals from these reserves as detailed within the report.

Reason(s) for the decision:

The council’s end of year accounts have been finalised and are showing a further net budget saving of £0.093. The final outturn position means that no contribution from reserves is required and this surplus will be transferred to the council’s general reserve.

Alternative Options Considered and Rejected:

None.