Decision details

To note the forecast revenue outturn position for 2017-18, including treasury management

RESOLVED:

1.  That the general fund outturn position for 2017-18 (Table 1 of the report) be noted.

2.  That the key adverse variations and budget pressures underlying the outturn position be noted:

·  The continuing pressures on children’s and adults’ social care leading to an overall adverse variance of £2.258m (paragraphs 23 to 27 of the report)

·  The dedicated schools grant (DSG) outturn position of a £4.111m deficit and the significant pressures on the high needs budgets (paragraphs 29 to 30 of the report)

·  the budget pressures on temporary accommodation (paragraphs 34 to 38 of the report)

·  the budget pressures on No Recourse to Public Funds (paragraph 39 of the report).

3.  That the variations helping to relieve the outturn position be noted:

·  The favourable budget variance on strategic finance (paragraphs 51 to 53 of the report)

·  The largely planned favourable position on finance and governance budgets (paragraphs 49 to 50 of the report)

·  utilisation of £4m contingency (paragraph 54 of the report) to offset adverse variances across the council

·  planned use of earmarked reserves of £3.700m to support the general fund budget.

4.  That the following in respect of ring-fenced budgets be noted:

·  housing revenue account outturn for 2017-18 (Table 2, paragraphs 55 to 65 of the report)

·  the dedicated schools outturn and utilisation of £5.360m reserves (paragraphs 29 to 30 of the report).

5.  That the detailed utilisation of reserves in 2017-18 and closing reserve balances as set out in the report (paragraphs 66 to 71 of the report) be noted.

6.  That the treasury management activity in 2017-18 (paragraphs 80 to 89 of the report) be noted.

7.  That the general fund budget movements that exceed £250,000 as shown in Appendix A of the report be approved.

8.  That cabinet general fund budget movements that are less than £250,000 as shown in Appendix A of the report be noted.

9.  That the outturn position implications for the 2018-19 budgets and beyond set out in paragraphs 78 to 80 of the report) be noted.