RESOLVED:
1. That the budget movements set out in Appendix A of the report be approved.
2. That the following be noted:
· The general fund outturn for 2010/11
· The release of £11.3m of reserves to support services and £1.7m for capital purposes
· The overall net reduction in reserves of £2.5m, prior to technical adjustments
· The favourable variance of £3.906m on the general fund which has been taken to the modernisation reserve
· The favourable variance of £2.361m on the schools budget which has been taken to the dedicated schools grant reserve
· The housing revenue account’s (HRA) outturn for 2010/11 and movement on reserves
· The achievements of savings against the budgeted targets for the year
· The collection fund’s year-end surplus balance
· The treasury management activity for the year.