Agenda item

Cabinet Member: Finance

Forward Plan Ref: 2016/002

Contact: Katy Jurczyszyn, Strategic Finance Manager (Finance, Strategy & Monitoring) Tel: (01865) 323975

Report by Chief Finance Officer (CA6).

This report sets out the provisional revenue and capital outturn position for 2015/16 and shows how actual expenditure and income for the year compares to the budgeted position.  The Council’s draft Statement of Accounts for 2015/16 is required to be signed by the Chief Financial Officer by 30 June following which a period of public inspection will commence[1].  The final Statement of Accounts will be submitted to the Audit and Governance Committee on 14 September 2016 following external audit and certification by the Chief Finance Officer. 

The Cabinet is RECOMMENDED in respect of the 2015/16 outturn to:

(a)             note the provisional revenue and capital outturn for 2015/16 along with the year end position on balances and reserves as set out in the report;

(b)            approve the debt write-off as set out in paragraph 60;

(c)             approve the virements as set out in Annex 2a;

(d)            recommend Council to approve the virements greater than £1.0m for Children, Education & Families and Social & Community Services as set out in Annex 2a;

(e)             recommend Council to approve the virement of £1.5m from contingency to offset the overspend within Children’s Social Care; and

(f)               agree that the surplus on the On-Street Parking Account at the end of the 2015/16 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 2016/17 financial year.

Cabinet considered a report that set out the provisional revenue and capital outturn position for 2015/16 and showed how actual expenditure and income for the year compared to the budgeted position. Cabinet also considered a further explanatory note and updated Annex . The Council’s draft Statement of Accounts for 2015/16 is required to be signed by the Chief Financial Officer by 30 June following which a period of public inspection will commence.  The final Statement of Accounts will be submitted to the Audit and Governance Committee on 14 September 2016 following external audit and certification by the Chief Finance Officer. 

Councillor Hards, Shadow Cabinet Member for Finance, commended officers for the work that had gone on to achieve the outturn result and he also commended the way the work had been carried out. He expressed concern as to whether the juggling that had gone on could continue, with virements from underspends elsewhere offsetting overspends in Children, Education & Families. He highlighted a number of areas of continuing concern including SEN transport, children’s social care and waste. With regard to the Independent Living Fund he was pleased the Council was able to make savings by cutting the level of support but he queried the implications of doing so.  He expressed anger at the financial burden placed on the Council in picking up the deficit of two schools converting to Academy status as detailed in paragraph 112 of the report.

Councillor Tilley, Cabinet Member for Children, Education & Families responded to a number of the points raised by Councillor Hards commenting that the numbers coming on to care plans was a national trend and she saw it as a good thing as more children were getting the care they needed. She updated him in relation to the position with regard to the SEN education provision in the South of the County and children’s homes provision.

In relation to the Independent Living Fund Councillor Heathcoat, referred to paragraph 35 which set out what had happened and that transition funding was available.

Councillor Stratford Cabinet Member for Finance noted that he shared Councillor’s Hards views in relation to Academy finances and it was something he was pursuing. Councillor Stratford introduced the contents of the report, moved the recommendations and congratulated the Finance Team and all staff on achieving the outturn position. The Leader added his thanks to the Finance Team and all staff on the outturn aceived which showed the resilience of the organisation.

RESOLVED:              in respect of the 2015/16 outturn to:

(a)             note the provisional revenue and capital outturn for 2015/16 along with the year end position on balances and reserves as set out in the report;

(b)             approve the debt write-off as set out in paragraph 60;

(c)             approve the virements as set out in Annex 2a;

(d)             recommend Council to approve the virements greater than £1.0m for Children, Education & Families and Social & Community Services as set out in Annex 2a;

(e)             recommend Council to approve the virement of £1.5m from contingency to offset the overspend within Children’s Social Care; and

(f)              agree that the surplus on the On-Street Parking Account at the end of the 2015/16 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 2016/17 financial year.