Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
RESOLVED:-
(i) that the 2018/19 draft revenue final accounts position, as set out in the report now submitted, be noted;
(ii) that the final position for Council services being an operational underspend of £4.145m, as detailed in Section 3, be noted;
(iii) that the final position for Corporate budgets being an operational underspend of £3.392m, giving an overall underspend on the Authority’s General Fund of £7.537m, as detailed in Section 3, be noted;
(iv) that it be noted that the £2.800m of this balance has already been included within the updated 2019-2022 Reserves Strategy as part of approving the 2019/20 budget;
(v) that approval for £4.000m of this balance be earmarked for anticipated Social Care cost pressures and future demography;
(vi) that approval be given for the balance of £0.737m be transferred to the Authority’s Strategic Reserves in line with the updated Medium Term Financial Strategy (MTFS);
(vii) that agreement be given to earmark the carry forward revenue resources as identified in Section 4 and Appendix 1 of the report, subject to further reports being submitted for individual approvals where necessary;
(viii) that approval be given to write off historic bad debt totalling £1.340m being £1.222m (General Fund) and £0.118m trade debt/tenant arrears (HRA) as detailed in Section 6.10 of the report;
(ix) that the position on the Invest to Grow Fund be noted;
(x) that the Section 151 Officer be requested to submit further reports on the overall outturn position if any significant adjustments arise following external audit scrutiny; and
(xi) that the potential impact of the draft revenue final accounts position on the Council’s Medium Term Financial Strategy (MTFS) as detailed in Section 8 of the report be noted.
Publication date: 02/07/2019
Date of decision: 24/06/2019
Decided at meeting: 24/06/2019 - Cabinet
Effective from: 02/07/2019
Accompanying Documents: