Issue - meetings

Provisional 2012/13 Revenue and Capital Outturn

 

 

Meeting: 18/06/2013 - Cabinet (Item 66)

66 Provisional 2012/13 Revenue and Capital Outturn pdf icon PDF 167 KB

Cabinet Member: Finance

Forward Plan Ref: 2013/003

Contact: Lorna Baxter, Deputy Chief Finance Officer Tel: (01865) 323971

 

Report by Assistant Chief Executive & Chief Finance Officer (CA6).

 

This report sets out the provisional revenue and capital outturn for 2012/13 and shows how actual expenditure and income for the year compares to the budgeted position.  It also includes proposals for carry forwards from 2012/13 to 2013/14.   The report is consistent with the Council’s Statement of Accounts for 2012/13  which will be submitted to the Audit and Governance Committee on 3 July 2013 following certification by the Chief Finance Officer and prior to external audit.

 

The Cabinet is RECOMMENDED:

 

(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.

Additional documents:

Minutes:

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.