Issue - meetings

To provide Cabinet with an overview of the financial outturn for the year 2016/17 and seek approval for:

a)         Revenue and capital commitments to be carried forward to 2017/18;

b)         Funding of the 2016/17 General Fund and HRA Capital Programmes; and

c)         The reserves position at the end of 2016/17.

That Cabinet -

(a)         notes the financial outturn position for 2016/17 as set out in item A.4 of the Report of the Resources and Corporate Services Portfolio Holder and its appendices;

(b)     approves the General Fund Revenue Commitments of £11.448m to be carried forward from 2016/17 to 2017/18 as set out in Appendix A of the above-mentioned report;

(c)     approves that the overall General Fund Outturn Variance of £1.434m be carried forward via the Revenue Commitments Reserve for further consideration as part of the Initial Financial Strategy for 2018/19 later in the year;

(d)     approves the financing of General Fund capital expenditure for 2016/17 as detailed in Appendix D of the aforementioned report;

(e)     approves the General Fund capital budgets of £10.907m to be carried forward from 2016/17 to 2017/18 and the associated carry forward of the revenue contribution to capital of £1.925m;

(f)      approves the movement in uncommitted and earmarked General Fund reserves for 2016/17 as set out in Appendix E to the aforesaid report;

(g)     in respect of the HRA, approves the movement on HRA balances for 2016/17 including any commitments set out within Appendices I and J along with recharges to the HRA from the General fund of £2.203m for the year and the financing of the HRA capital expenditure as set out in Appendix J to the above report;

(h)     delegates authority to the Council’s Section 151 Officer, in consultation with the Resources and Corporate Services Portfolio Holder, to adjust the outturn position for 2016/17 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 2016/17 accounts; and

(i)           following additional flexibilities given to Local Authorities by the Government, agrees to planning fees being increased by 20% from 1 July 2017 with the necessary budget adjustments being made to reflect the increase in income and associated ring-fencing arrangements, and that further information is provided to a future Cabinet meeting as to how the additional income is to be used to improve the Planning Service.

There was submitted a report by the Portfolio Holder for Resources and Corporate Services (Report A.4), which provided Cabinet with an overview of the financial outturn for the year 2016/17 and sought Cabinet’s approval for:

·         Revenue and capital commitments to be carried forward to 2017/18;

·         Funding of the 2016/17 General Fund and HRA Capital Programmes; and

·         The reserves position at the end of 2016/17.

Having considered the information submitted:

It was moved by Councillor G V Guglielmi, seconded by Councillor Stock and:

RESOLVED that Cabinet -

(a)       notes the financial outturn position for 2016/17 as set out in item A.4 of the Report of the Resources and Corporate Services Portfolio Holder and its appendices;

(b)     approves the General Fund Revenue Commitments of £11.448m to be carried forward from 2016/17 to 2017/18 as set out in Appendix A of the above-mentioned report;

(c)     approves that the overall General Fund Outturn Variance of £1.434m be carried forward via the Revenue Commitments Reserve for further consideration as part of the Initial Financial Strategy for 2018/19 later in the year;

(d)     approves the financing of General Fund capital expenditure for 2016/17 as detailed in Appendix D of the aforementioned report;

(e)     approves the General Fund capital budgets of £10.907m to be carried forward from 2016/17 to 2017/18 and the associated carry forward of the revenue contribution to capital of £1.925m;

(f)      approves the movement in uncommitted and earmarked General Fund reserves for 2016/17 as set out in Appendix E to the aforesaid report;

(g)     in respect of the HRA, approves the movement on HRA balances for 2016/17 including any commitments set out within Appendices I and J along with recharges to the HRA from the General fund of £2.203m for the year and the financing of the HRA capital expenditure as set out in Appendix J to the above report;

(h)     delegates authority to the Council’s Section 151 Officer, in consultation with the Resources and Corporate Services Portfolio Holder, to adjust the outturn position for 2016/17 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 2016/17 accounts; and

(i)            following additional flexibilities given to Local Authorities by the Government, agrees to planning fees being increased by 20% from 1 July 2017 with the necessary budget adjustments being made to reflect the increase in income and associated ring-fencing arrangements, and that further information is provided to a future Cabinet meeting as to how the additional income is to be used to improve the Planning Service.