Issue - meetings

Cabinet considered the final outturn position for the General Fund, Housing Revenue Account and Capital Programme for the year ended 31^st March 2018 and confirmed that, there were no changes to the outturn position following the audit.

The General Fund net revenue expenditure was in line with budget, and there had been an overall increase in reserves, as a result of the timing of income and expenditure flowing in and out of the business rates equalisation reserve. This was encouraging, after years of having to draw down reserves to fund past decisions.

Members noted that the General Fund capital programme was underspent as capital projects were not progressed as quickly as planned and these had been slipped into 2018-19. Many of these projects had external funding attached to them and this funding remained in place, despite the delays.

The Housing Revenue Account actual surplus was very close to the budget figures. The HRA capital programme was underspent, mainly in the areas of Housing Intervention and New Builds.

Councillor Gregory proposed, Councillor Savage seconded and Cabinet agreed:

1.  That the provisional outturn for 2017-18 contained within this report be noted;

2.  That the earmarked reserves as outlined in sections 1.6 and 2.8 of the Cabinet report be noted;

3.  That the capital programme carry forwards shown in Annex 1 and Table 4 of the report be noted;

4.  That the Annual Treasury Management Review of Activities for 2017-18 set out in section 4 of the report be noted.