Issue - meetings

Cabinet considered a report that set out the provisional revenue and capital outturn for 2012/13 and showed how actual expenditure and income for the year compared to the budgeted position. It also included proposals for carry forwards from 2012/13 to 2013/14.

Councillor Nick Hards, Shadow Cabinet Member for Finance highlighted the overspend on highways (paragraph 18) and hoped that the Council would look creatively at the issues created by the winter weather. He also referred to  the surplus on on-street parking and queried whether this would be used.

Councillor Fatemian in moving the recommendations drew attention to the revised annex on the addenda. Cabinet in agreeing the recommendations thanked the Finance Team for their efforts over the year to produce such a good result.

RESOLVED:

(a)         in respect of the 2012/13 outturn to:

1)            note the provisional revenue and capital outturn for 2012/13 along with the year end position on balances and reserves as set out in the report;

2)            approve the carry-forwards and virements as set out in Annex 2;

3)            recommend Council to approve the virements greater than £0.5m for Children, Education & Families, Social & Community Services and Environment & Economy Directorates as set out in Annex 2b;

4)            agree that the surplus on the On-Street Parking Account at the end of the 2012/13 financial year, so far as not applied to particular eligible purposes in accordance with Section 55(4) of the Road Traffic Regulation Act 1984, be carried forward in the account to the 2013/14 financial year;

(b)          in respect of the 2013/14 revenue budget and Capital Programme:

1)            agree the increase of £0.581m to the Kennington Roundabout scheme as set out in paragraph 44;

2)            approve virements for 2013/14 as set out in Annex 7.