Early Review of 2014-15 Council General Fund Revenue Outturn
A report seeking endorsement of capital funding and revenue reserves proposals.
Wards: All
Officer: Eamonn Croston: 01484
221000
Decision:
(1) That approval be given to the proposed revenue contribution of £2.1m to support capital funding of short-life assets in 2014/2015, with a corresponding reduction in planned borrowing, resulting in £295,000 treasury management savings over a 7 year period from 2015-2016 onwards.
(2) That it be noted that the savings as referred to in (1) above be factored into the annual re-fresh of the Council’s Medium Term Financial Plan for the 2016-2019 period.
(3) That approval be given to the proposed use of reserves as part of the final accounts process 2014-2015, including the re-direct of £3m existing rollover reserve to support the ‘Journey to New Council’, and maximising the workforce restructure reserve available to support 2015-2016 Medium Term Financial Plan.
(4) That the impact of (1) and (3) above on the overall general fund revenue outturn and capital outturn positions for 2014-2015 be noted and that a report be submitted to Cabinet and Council in July 2015 including 2014-2015 rollover considerations.