Agenda item

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.