Issue - meetings

Financial Outturn 2016/17

Meeting: 20/06/2017 - Cabinet (Item 11)

11 Financial Outturn 2016/17 pdf icon PDF 839 KB

[Report of the Chief Finance Officer. To be Introduced by  the Cabinet Member for Finance and Health]  The report sets out the revenue  and capital outturn for 2016/17  together with proposed transfers to reserves  and revenue and Capital carry forward requests.

Additional documents:

Minutes:

The Leader introduced the report which set out the Council’s provisional budget outturn for the year ended 31 March 2017. The report further included the provisional revenue and capital outturn for the General Fund showing the variances against budget together with the movements on reserves and the provisional capital and Housing Revenue Account (HRA) revenue outturn. It also provided explanations of significant under/overspendings.

 

The Chief Operating Officer agreed to provide Councillor Newton with written answers to the following questions:

 

  • Page 170, appendix 2 scheme 316, explanation of the difficulties with the contractor that have led to the underspend in asset management and when they will be resolved?

 

  • Page 172, appendix 4, virements, explanation on why the staffing budget has increased by £282,000?

 

 

RESOLVED

 

1.    To note the provisional revenue and capital outturn for 2016/17 as detailed in the report;

2.    To approve revenue carry forward requests of £9.4m at Appendix 1;

3.    To approve capital carry forwards requests totalling £81.6m at Appendix 2;

4.    To approve the use of reserves as set out in Appendix 3;

5.    To approve the quarter 4 capital budget virements at Appendix 4;

6.    To approve the quarter 4 revenue budget virements at Appendix 4; and

7.    To approve the revised MTFS capital programme profile set out in section 17 of this report.

 

Reasons for decision

A strong financial management framework, including oversight by Members and senior management, is an essential part of delivering the Council’s priorities.

Alternative Options considered

The report of the Council’s outturn and management of the financial resources is a key part of the role of the Chief Operating Officer (Section 151 Officer) and no other options have therefore been considered.