Decision details

To note the forecast revenue outturn position, including treasury management

RESOLVED:

1.  That the following be noted:

·  the general fund outturn forecast for 2016-17 of £8.619m after the utilisation of £9.342m reserves (table 1, paragraph 10 of the report)

·  the continuing pressures on the children’s and adults’ social care, public health and No Recourse to Public Funds budgets (paragraphs 11- 24, paragraph 31 of the report)

·  the utilisation of the £4m contingency and £5m one-off windfall resulting from the early delivery of the minimum revenue provision saving to mitigate the full effect of cost pressures (paragraphs 36 and 37 of the report)

·  the housing revenue account forecast outturn for 2016-17 (table 2, paragraphs 40 to 45 of the report)

·  the treasury management activity in 2016-17 (paragraphs 60 -69 of the report).

2.  That the implications of the current forecast for 2016-17 on future budget setting and the medium term financial strategy (paragraphs 54 - 57 of the report) be noted.

3.  That the revised financial remit for the three year planning period to 2019-20; the end of the current four year settlement term (table 3 of the report) be noted.

4.  That officers be instructed to:

·  prepare proposals to balance the 2017-18 budget for consideration at December cabinet meeting (paragraph 57 of the report)

·  further propose options for 2018-19 to 2019-20, in the context of the cost uncertainty surrounding social care pressures, New Homes Bonus and arrangements for the Better Care Fund and the potential impact of welfare reform (paragraph 57 of the report).