Decision details

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

RESOLVED:

1.  That the general fund outturn position for 2018-19 (Table 1 of the report) be noted.

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

·  The Dedicated Schools Grant (DSG) outturn position of a £11.515m deficit and the significant pressures on the high needs budgets (paragraphs  30-31 of the report)

·  the budget pressures on temporary accommodation (paragraphs 36-37 of the report) and No Recourse to Public Funds (NRPF) (paragraph 39 of the report).

3.  That the utilisation of £4m contingency (paragraph 54 of the report) to offset adverse variances on temporary accommodation and NRPF be noted.

4.  That the housing revenue account outturn for 2018-19 (Table 2, paragraphs  55-63 of the report) be noted.

5.  That the increase in unallocated general fund balance (paragraphs 64-66 of the report) be noted.

6.  That the earmarking of the one-off financial benefits arising from the London Devolution deal (paragraphs 71-73 of the report) be noted.

7.  That the detailed movements of earmarked reserves as set out in Appendices B, C and D of the report be noted.

8.  That the treasury management activity in 2018-19 (paragraph 83-91 of the report) be noted.

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

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

11.  That the outturn position implications for the 2019-20 budgets and beyond set out in paragraphs 80-82 of the report) be noted.