Issue - items at meetings - KD 4530 - Revenue & Capital Outturn 2016/17

Issue - meetings

KD 4530 - Revenue & Capital Outturn 2016/17

Meeting: 13/07/2017 - Cabinet (Item 7)

7 Revenue & Capital Outturn 2016/17 pdf icon PDF 1010 KB

A report from the Executive Director of Finance, Resources and Customer Services is attached. (Key decision – reference number 4530)

(Report No.15)

(8.25 – 8.30 pm)

Minutes:

Councillor Achilleas Georgiou (Deputy Leader) returned to the Cabinet meeting.

 

Councillor Dino Lemonides (Cabinet Member for Finance and Efficiency) introduced the report of the Executive Director of Finance, Resources and Customer Services (No.15) setting out the overall Council General Fund and Housing Revenue Account revenue and capital outturn position for 2016/17. The report also provided information on the Council’s current level of reserves.

 

NOTED

 

1.               That the outturn position for 2016/17 was within budget. The overall level of General Fund earmarked reserves at 31 March 2017 had increased by £6.8m to £45.4m (£38.6m 31 March 2016). This excluded ring-fenced reserves such as Public Health and Dedicated Schools Grants reserves. The HRA reserves had decreased by £5.1m from £25.8m to £20.7m. Details of the total reserves as at 31 March 2017 and the planned use of these over the Medium Term Financial plan period were set out in Appendix G to the report.

 

2.               The level of the General Fund balances at 31 March 2017 was unchanged at £14m, paragraph 4.7 of the report referred.

 

3.               The 2016/17 capital outturn position as set out in section 6 and Appendix H of the report.

 

 

Alternative Options Considered: Not relevant in the context of this report.

 

DECISION: The Cabinet

 

1.               Noted the General Fund and Housing Revenue Account (HRA) revenue and capital outturn for 2016/17.

 

2.               Agreed specific changes to reserves as set out in paragraph 4.3 and detailed in the service appendices to the report.

 

3.               Noted the capital outturn and agreed the funding of the Council’s capital expenditure for 2016/17 as set out in the report (paragraph 6.3 referred).

 

Reason: To ensure that Members were aware of the outturn position for the authority including all major variances which had contributed to the outturn position.

(Key decision – reference number 4530)