| Reference Number :- | 2573 |
| Date :- | 2015/06/12 |
| Decision Maker :- | Cabinet |
| Subject to Call-in :- | Yes |
| Subject of Decision :- | Financial Outturn 2014/15 |
| Decision :- | That: (a) the financial outturn position for 2014/15, as set out in the report and appendices, was noted; (b) the General Fund Revenue Commitments of £9.075m to be carried forward from 2014/15 to 2015/16, as set out in Appendix A of the report, was approved; (c) against the background of taking opportunities to reinvest increased savings and the increasingly difficult financial environment faced by the Council along with balancing the deliverability of key priorities and actions, the following 2015/16 budget adjustments funded from the General Fund variance for 2014/15 of £0.286m and £0.010m from the Contingency Budget were approved: • £0.096m to be allocated to the Frinton and Walton Swimming Pool Redevelopment Project; and • £0.200m to be allocated to enable the required repairs to the Venetian Bridge at Pier Gap, Clacton to be undertaken and that the Corporate Director (Public Experience) was authorised to undertake the necessary design and procurement activities required to deliver this project at the earliest opportunity; (d) the financing of General Fund capital expenditure for 2014/15, as detailed in Appendix D of the report, was approved; (e) the General Fund capital budgets of £4.496m to be carried forward from 2014/15 to 2015/16 and the associated carry forward of the revenue contribution to capital of £0.287m was approved; (f) the updated General Fund capital programme for 2015/16 to 2018/19 and associated financing, as set out in Appendix K to the report, was approved; (g) the movement in uncommitted and earmarked General Fund reserves for 2014/15, as set out in Appendix E to the report and any amendments arising from resolution (c) above, was approved; (h) in respect of the Housing Revenue Account (HRA), the movement on HRA balances for 2014/15, including the commitments set out within Appendices I and J to the report, along with recharges to the HRA from the General Fund of £2.156m for the year and the financing of the HRA capital expenditure set out in Appendix J to the report, were approved; (i) in respect of the 2015/16 General Fund revenue budget, the necessary adjustments that reflect the latest position for the Council Tax sharing agreement with the major preceptors, as set out in the report, was approved; (j) in respect of the next phase of the Council Tax Sharing agreement with the major preceptors that is currently being developed by Essex Authorities, the Benefits and Revenues Portfolio Holder and the Finance and Transformation Portfolio Holder were authorised to sign up to the agreement, if beneficial to this Council; and (k) the Council’s Section 151 Officer, in consultation with the Finance and Transformation Portfolio Holder, was authorised to adjust the outturn position for 2014/15 along with any corresponding adjustment to earmarked reserves as a direct result of any recommendations made by the Council’s External Auditor during the course of their audit activities relating to the Council’s 2014/15 accounts. |
| Reason for Decision :- | Having discussed the Financial Outturn 2014/15 report. |
| Alternative Options Considered :- | None. |
| Conflicts of Interest Delared (and Dispensations Granted by the Monitoring Officer) :- | Councillor Broderick declared an interest in this item in respect that the afore-mentioned report referred to the Clacton/Holland-on-Sea Coastal Defence Scheme. A dispensation had been granted by the Council's Monitoring Officer. Consultation with Ward Member: N/A. |
| Contact Officer :- | Finance and Procurement Manager - Richard Barrett |
| Decision to Take Effect at end of :- | 2015/06/19 |
| Attachments :- | A.1 Financial Outturn Report 2014/15 Report (401K/bytes) |