Issue - meetings

Cabinet Member: Finance & Police

Forward Plan Ref: 2012/007

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

Report by Assistant Chief Executive & Chief Finance Officer (CA 6).

This report sets out the revenue and capital outturn for 2011/12 and shows how actual expenditure and income for the year compares to the budgeted position.  It also includes proposals for carry forwards from 2011/12 to 2012/13.   The report is consistent with the Council’s Statement of Accounts for 2011/12.  This will be submitted to the Audit Committee on 4 July 2012 following certification by the Chief Finance Officer and prior to external audit. 

The Cabinet is RECOMMENDED to:

(a)               note the revenue and capital outturn, and the year end position on balances and reserves as set out in the report;

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

(c)               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;

(d)              agree that the surplus on the On-Street Parking Account at the end of the 2011/12 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 2012/13 financial year.

Cabinet considered a report that set out the revenue and capital outturn for 2011/12 and showed how actual expenditure and income for the year compared to the budgeted position. It also included proposals for carry forwards from 2011/12 to 2012/13.

Councillor Roz Smith, Shadow Cabinet Member for Finance and Police noted the need for the Council to make savings and referred to the revenue underspends predicted which could be read with concern if they meant that services were stretched. Councillor Smith highlighted the level of general balances and commented that the Liberal Democrat Group would query why the balances were so high. Referring to the School Balances she asked that any balances recovered from schools be spent locally.The Leader responded to the comments made.

RESOLVED:             to:

(a)       note the revenue and capital outturn, and the year end position on balances and reserves as set out in the report;

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

(c)        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;

(d)       agree that the surplus on the On-Street Parking Account at the end of the 2011/12 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 2012/13 financial year.