Decision details

The Director for Corporate Services submitted a report to provide members with information on the provisional year end position subject to external audit approval for 2017/18. With reference to the bottom line of the table on page 58 it was highlighted that the Approved Budget figure should read 543,670 and the Variance to Approved Budget figure should be a deficit of (259,811).

The key message advised to Members was that despite many pressures on the budget the council has underspent against the approved budget across all funds. The general expenses position against the estimated year end position is an underspend of £259,811k which when approved carry forwards are taken into account reduces to an underspend of £39,731k on General Fund and a net transfer to Special Expenses MM reserve of approximately £3k. This is a positive achievement and demonstrates that the hard line approach taken regarding supplementary estimates has worked well. This same approach will be followed again for the current financial year.

The key variances against the approved budget were highlighted and further detail supplied in Appendix A. Members’ attention was drawn to the tables at 3.8 in the report which showed the impact on reserves and balances of the provisional year end position. The Director for Corporate Services concluded that the figures will remain provisional until the audit of the accounts is finalised but, at this stage, no changes are anticipated.

Councillor Rhodes moved the recommendation and Councillor de Burle seconded.

All members were unanimously in favour.

RESOLVED that the provisional year end position, variations to the 2017/18 estimated year end position and the resultant effect on the Council’s balances and reserves as set out in the attached papers be noted.