Issue - meetings

A report from the Executive Director – Resources is attached. (Key decision – reference number 4925)

(Report No.39)

(7.20 – 7.25 pm)

Councillor Mary Maguire (Cabinet Member for Finance and Procurement) introduced the report of the Executive Director – Resources (No.39) setting out the revenue outturn position for 2018/19.

NOTED

1.            That the report set out the outturn position for 2018/19 for the General Fund Revenue Account; Housing Revenue Account (HRA); Dedicated Schools Grant (DSG) funded expenditure; and, the collection fund balance at year end, as set out in the report.

2.            That the report also provided information on the Council’s current level of useable reserves and balances.

3.            The continuing budget pressures being experienced, as outlined in the report, particularly in relation to Adult Social Care and Children’s Services.

4.            The flexible use of capital receipts set out in section 4.2 and Appendix F of the report.

5.            The detailed 2018/19 revenue outturn position outlined in section 4 and the appendices to the report.

6.            The Housing Revenue Account Outturn as detailed in section 4.3 and Appendix G of the report.

7.            The outturn details in relation to the Dedicated Schools Grant as outlined in section 4.1.8 of the report.

8.            The outturn performance in 2018/19 for the Collection Fund, covering both council tax and business rates as set out in section 4.5 of the report.

9.            The need to maintain reserves to meet unexpected expenditure and budget pressures, as outlined in the report. Local authorities faced continuing uncertainties on future funding provision at a time of increasing pressures on Council services. The outturn position demonstrated the Council’s prudent financial approach and, provided evidence of sound financial management and efficient use of resources.

10.         Enfield’s financial position and level of reserves in relation to other comparative local authorities.

11.         In response to a question raised regarding the North London Waste Reserve as set out in the report, it was noted that going forward this issue was addressed within Report No.42 – Medium Term Financial Strategy 2010/21 to 2024/25, as detailed in Minute No.7 below.

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

DECISION: The Cabinet agreed to note the General Fund, Housing Revenue Account (HRA) and Dedicated Schools Grant (DSG) revenue outturn for 2018/19.

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 4925)