Decision details

To consider and note the financial outturn reports in relation to revenue, capital & treasury management. Make decisions as appropriate based on the finalised financial position.

1)    That, in terms of the General Revenue Fund, (i) the revenue outturn position for 2016-2017 be noted, (ii) the year-end position on corporate reserves, including available ‘financial resilience’ reserves, be noted and (iii) it be noted that regular monitoring and review of corporate reserves in 2017-2018 will be reported to Cabinet as part of the quarterly financial monitoring cycle including consideration of the potential re-direct of earmarked reserves to support deferred District Committee spend commitments.

2)    That, in terms of the Housing Revenue Account, (i) the revenue outturn position 2016-2017 be noted, and (ii) the year end position on HRA reserves be noted.

3)    That, in terms of Capital, (i) the Council capital outturn position 2016-2017 be noted, (ii) approval be given to £39.2m capital rollover from 2016-2017 to 2017-2018, (iii) approval be given to the revised Capital Plan for the 5 year period 2017-2022, after taking into account rollover, the re-phasing of schemes and changes to grant assumptions,  and (iv) it be noted that a further review of the updated capital plan to inform the annual refresh of Council multi-year budget strategies is scheduled for submission to Council during Autumn 2017.

4)    That the review of treasury management activity 2016-2017, as set out in Appendix A of the considered report, be noted.

5)    That Officers be asked to note Cabinet’s concerns regarding the potential for expenditure late on in the financial year.