Decision details

Financial Outturn Position of the Council and Transfers to Reserves / General Balances

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

Reporting the 2012/13 financial outturn position of the Council and the approval of transfers to reserves / general balances. The outturn position reflects whether the Council under / overspent its revenue spending, when compared to the approved budget. Any underspending can be retained in General Balances, or allocated to specific earmarked reserves for future utilisation.

Decisions:

The Cabinet considered the report of the Head of Finance and ICT which provided details of the revenue outturn position on the 2012/2013 General Fund.

 

Decision Made:

 

 

That approval be given to the transfer of £3.0m of the 2012/2013 General Fund revenue underspend to increase certain earmarked reserves as set out in paragraph 4.3 of the report, and to increase the level of General Balances by £2.865m.

 

Reasons for Decision:

 

 

To ensure the Cabinet are informed of the revenue outturn position for 2012/2013 and to seek approval to reserve part of the identified underspend; and transfer the remainder to General Balances.

 

Alternative Options Consideredc and Rejected:

 

None

 

Report author: Margaret Rawding

Publication date: 17/09/2013

Date of decision: 12/09/2013

Decided at meeting: 12/09/2013 - Cabinet

Effective from: 25/09/2013

Accompanying Documents: