Issue - meetings

To consider a report that provides an update on the 2017/18 outturn position for 2017/18 including any carry forward requests.

Report & Appendix attached

The Executive considered a report that provided an update on the 2017-2018 outturn positions for the General Fund and Housing Revenue Account together with recommendations to revisions to 2018-19 revenue budgets.

The Executive considered a report that provided an update on the 2017-2018 outturn positions for the General Fund and Housing Revenue Account together with recommendations to revisions to 2018-19 revenue budgets.

It was pointed out that the arrow in the chart at paragraph 4.2 of the report next to “overspend or less” should read “underspend or more”.

The Assistant Director (Finance and Estates) reminded the Executive that, notwithstanding the removal of 2018/19 General Fund base budget net savings totalling £116,970, the Council still needed to identify £3.2million in revenue savings over the next three years.

It was RESOLVED:

1.  That the 2017/18 actual net expenditure on the General Fund of £10,138,229 is noted, subject to the 2017/18 audit of the Statement of Accounts.

2.  That new carry forward requests totalling £338,100 are approved for the General Fund

3.  That the removal of 2018/19 General Fund base budget net savings totalling £116,970 , which will contribute towards the Council’s Financial Security objectives for 2018/19 is approved.

4.  That the 2017/18 actual in year surplus on the HRA of £4,365,093 is noted, subject to the 2017/18 audit of the Statement of Accounts.

5.  That new carry forward requests totalling £82,270 are approved for the HRA.

6.  That the removal of 2018/19 HRA budget net savings of £7,000 which will contribute towards the Council’s Financial Security objectives for 2018/19 is approved.

Reason for Decision: As contained in report.

Other Options considered: As contained in report.