Issue - meetings

To be advised of the provision outturn figures on the 2016/17 budget.

RESOLVED:

That the latest budget forecasts for the General Fund (paragraph 3.2), Capital (paragraph 4.2) and Housing Revenue Account (Paragraph 5.1) for 2017/17 be noted.

The Cabinet was advised that the provisional outturn figure for the general fund for 2016/17 showed actual expenditure had been £15.305 million, which was significantly less that the originally agreed budget of £17.192 million.  The variations that had been identified since the Cabinet last considered the budget were set out in sections 3.5 to 3.7 of report item 8 considered by the Cabinet. 

Recent variations to the Capital Programme resulted in a revised budget of £17.799 million, following identified savings of £1.855 million; the addition of new, but already approved, requirements amounting to £361,000; and net rephasings amounting to £2.050 million.  Further details of these variations were set out in Section 4 of Report Item 8 considered by the Cabinet.

The Housing Revenue Account would be maintained as a balanced budget, with any underspend, after ensuring the optimum use of capital and revenue resources, transferred to the Acquisitions and Development Fund.  New variations were set out in paragraphs 5.2 and 5.3 of Report Item 8 considered by the Cabinet.

RESOLVED:

That the latest budget forecasts for the General Fund (paragraph 3.2), Capital (paragraph 4.2) and Housing Revenue Account (Paragraph 5.1) for 2016/17 be noted.