Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
RESOLVED:-
(i) that the 2016/17 draft revenue final accounts position, as set out in the report now submitted, be noted;
(ii) that the service operational overspend of £9.847m be a call on the Authority’s strategic reserves;
(iii) that the additional net ‘one off’ resources received during the year and savings on capital financing costs of £30.790m leaving a balance of £20.943m to be transferred into the Authority’s strategic reserves;
(iv) that it be noted that the total strategic reserves available for investment/budget support have increased by £2.2m since December 2016, and the Medium Term Financial Strategy and reserves strategy be refreshed over the summer to take this into account;
(v) that agreement be given to earmark the carry forward revenue resources as identified in Sections 1 and 8 and Appendices 1, 2 and 3, subject to further reports being submitted for individual approvals where necessary;
(vi) that approval be given to write off historical bad debt totalling £3.061m as detailed in Section 8;
(viii) that approval be given to the further Invest to Grow schemes totalling £0.166m outlined in Section 8 and it be noted that the £3m fund is now fully committed; and
(ix) that the Executive Director Core Services submit a further report on the overall outturn position if any significant adjustments arise following external audit scrutiny.
Publication date: 20/06/2017
Date of decision: 14/06/2017
Decided at meeting: 14/06/2017 - Cabinet
Effective from: 21/06/2017
Accompanying Documents: