Decision details

RESOLVED:-

(i)        that the 2017/18 draft revenue final accounts position, as set out in the report now submitted, be noted;

(ii)       that the service operational underspend of £0.633m be noted and the sum be approved to be transferred to the Authority’s strategic reserves in line with the updated Medium Term Financial Strategy (MTFS);

(iii)      that the additional corporate resources received during the year of a net £6.290m be noted and this sum approved to be transferred to the Authority’s strategic reserves in line with the MTFS;

(iv)      that the total strategic resources available for investment/budget support be £6.923m and subjected to a robust plan being developed to deliver the MTFS;

(v)       that agreement be given to earmark the carry-forward revenue resources as identified in Section 4 and Appendix 1, subject to further reports being submitted for individual approvals where necessary;

(vi)      that approval be given to write-off historical bad debt totalling £2.583m made up of £2.440m historical bad debts (General Fund) and £0.143m tenant arrears (HRA) as detailed in Section 7.3;

(vii)     that the Invest to Grow investment of £1.466m in 2018/19 including £1.009m carried forward from 2017/18 be noted;

(viii)    that the Section 151 officer be requested submit a further report on the overall outturn position if any significant adjustments arise following external audit scrutiny; and

(ix)      that the potential impact of the draft revenue final accounts position on the Council’s Medium Term Financial Strategy, as outlined at Section 8 of the report, be noted.