Issue - meetings

2018-19 Provisional Outturn and Annual Treasury Management Review

Meeting: 19/09/2019 - Cabinet (Item 597)

597 2018-19 Outturn and Annual Treasury Management Review pdf icon PDF 587 KB

Additional documents:

Minutes:

Cabinet considered the report which set out the final outturn position for the General Fund, Housing Revenue Account and Capital Programme for the year ended 31st March 2019. Cabinet was pleased to confirm that, following the audit, there were no changes to the outturn position. The report also included the annual Treasury Management review.

 

General Fund net revenue spending was approximately £1.5m over budget, however this was more than offset by a one off windfall associated with the 100% Business Rates Pilot. After considering all income and expenditure, overall, the General Fund reserves increased by £3.7m in 2018-19, with reserves and balances now sitting at £13.5m. This was a significant improvement on previous years.

 

The General Fund capital programme was down by £4.4 million against the revised budget as capital projects were not progressed as quickly as planned, with works now scheduled for completion in future years. The Housing Revenue Account realised a surplus of £1.55m, which had been added to the HRA working balance. The HRA capital programme was approximately £1.4m underspent against the revised budget.

 

Councillor Everitt spoke under council Procedure Rule 20.1.

 

Councillor Saunders proposed, Councillor Ashbee seconded and Cabinet agreed the following:

 

1.  That the outturn for 2018-19 contained within this report is noted;

 

2.  That the earmarked reserves as outlined in sections 1.4 and 2.7 be noted;

 

3.  That the capital programme carry forwards shown in Annex 1 are agreed;

 

4.  That the Annual Treasury Management Review of Activities for 2018-19 set out in section 4 is noted.