Issue - meetings

Financial Out-turn 2017-18

Meeting: 12/06/2018 - Cabinet (Item 63)

63 Financial Out-turn 2017-18 pdf icon PDF 73 KB

Report of Executive Member for Finance, Councillor Phil Cowen.

Additional documents:

Minutes:

The Executive Member for Finance explained that variances were outlined in the report and said that the revenue account was in a healthy position.

 

He commended the recommendations to Members and asked that £1.7m be carried forward into 2018-19 to support projects in progress.

 

Councillor Borrett congratulated the Finance team on producing a balanced budget particularly in the difficult financial climate.

 

Options

1)     That the report and appendix be noted and that Cabinet recommends to Full Council that capital budgets (& associated funding sources) of £1,694,731 be carried forward into 2018-19 to support projects in progress.

 

2)     That the report and appendix be noted and that changes are made before recommending to Full Council that the capital budgets (& associated funding sources) be carried forward into 2018-19 to support projects in progress.

 

Reasons

1)     To provide timely information to Members on the overall financial position of the Council, enabling resource re-allocation to priorities where necessary.

 

2)     To enable approved capital projects to continue to deliver in the new financial year.

 

RESOLVED that:

1)     That the report and appendix be noted.

 

RECOMMEND to Full Council:

 

2)     that capital budgets (& associated funding sources) of £1,694,731 be carried forward into 2018-19 to support projects in progress be approved;

 

3)     that the final capital out-turn and funding for 2017-18 as detailed in appendix B be approved.