Issue - meetings

Cabinet Member: Finance

Forward Plan Ref: 2019/004

Contact: Katy Jurczyszyn, Strategic Finance Manager (Finance, Strategy & Monitoring) Tel: 07584 909518

The purpose of this report is to present and provide commentary on the provisional revenue outturn position for 2018/19 prior to the formal closure of the accounts.

The Cabinet is RECOMMENDED to:

(a)         note the provisional revenue outturn for 2018/19 along with the year-end position on general balances and earmarked reserves as set out in the report;

(b)         approve the transfer of over and under spends to general balances as set out in paragraph 5;

(c)         agree that the surplus on the On-Street Parking Account at the end of the 2018/19 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 2019/20 financial year as set out in Annex 3;

(d)         approve the transfer of the £0.4m underspend relating to the replacement for the Oxfordshire Strategic Model to the Budget Priorities Reserve for use in 2019/20 as set out in the Communities Section below; 

(e)         approve the revised 2019/20 Earmarked Reserve forecast as set out in Annex 5.

Recommendations agreed.

Cabinet considered a report that provided commentary on the provisional revenue outturn position for 2018/19 prior to the formal closure of the accounts.

Councillor Glynis Phillips, Shadow Cabinet Member for Finance referred to the overspend in Children’s Social Care and commented that this highlighted the need to get better at predicting need.

Councillor Phillips highlighted the use of grant funds as an inefficient means of funding provision. There had been no quantifying of the officer time spent on managing and monitoring these funds. Organisations were grateful for the one-off funding but she queried whether it met the County Council’s outcome based approach. She suggested that a better use might be to mitigate the overspend.

Councillor Phillips welcomed the improved presentation of the information.

Councillor Bartholomew, Cabinet Member for Finance responded to the points raised. The position on children’s services was a recurring theme and although the budget had grown the likely overspend was known and would be managed through contingency. On the use of grants he highlighted the Councillor Priority Fund which gave councillors real local power to help local communities where they are best placed to identify local need individually or together.

Councillor Constance responding to a specific question on the use of the on and off-street parking surplus stated that it could be used only for very specific purposes as set out in the regulations.

Councillor Bartholomew introduced the report and moved the recommendations.

RESOLVED:             to:

(a)         note the provisional revenue outturn for 2018/19 along with the year-end position on general balances and earmarked reserves as set out in the report;

(b)         approve the transfer of over and under spends to general balances as set out in paragraph 5;

(c)          agree that the surplus on the On-Street Parking Account at the end of the 2018/19 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 2019/20 financial year as set out in Annex 3;

(d)         approve the transfer of the £0.4m underspend relating to the replacement for the Oxfordshire Strategic Model to the Budget Priorities Reserve for use in 2019/20 as set out in the Communities Section below; 

(e)         approve the revised 2019/20 Earmarked Reserve forecast as set out in Annex 5.