Issue - meetings

Report of the Head of Corporate Resources

The Cabinet considered the report of the Head of Corporate Resources that detailed the revenue and capital outturn position in relation to the 2016/17 financial year.  The report also detailed key variations and where appropriate set out any impact on future years financial performance. 

Decision Made: That:

(1)       the General Fund net underspend of £0.894m for 2016/17, be noted;

(2)       the Schools Delegated Budget net deficit of £2.915m for 2016/17, be noted;

(3)       the use of resources from the in-year surplus to increase the Council’s Redundancy Reserve by £0.894m, be approved; and

(4)       the capital outturn position for 2016/17 and the carry forward of resources to 2017/18, be noted.

Reasons for the Decision:

The production of a revenue and capital outturn report is a key feature of effective financial management and will allow Members to make informed decisions that will support service delivery and medium term financial sustainability.

Alternative Options Considered and Rejected:

None.

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