Issue - meetings

Matter for Decision

The report presented a summary of actual income and expenditure compared to the final budget for 2016/17 (outturn position). The report outlined the revenue and capital budget variances with explanations, as reported to individual Executive Councillors and Scrutiny Committee specific requests to carry forward funding available from budget underspends into 2017/18.

The outturn report presented in this Committee cycle reflected the current Executive Portfolios (which may have changed since the budgets were originally approved, before any changes in Portfolio responsibilities). Therefore members of all committees had been asked to consider proposals to carry forward budgets and make their views known to the Executive Councillor for Finance and Resources, for consideration at Strategy and Resources Scrutiny Committee prior to his recommendations to Council.

Decision of Executive Councillor for Finance and Resources:

     i.        Agreed to seek Council approval for carry forward requests totalling £914,330 revenue funding from 2016/17 to 2017/18, as detailed in Appendix C

    ii.        Agreed to seek Council approval for carry forward requests of £34,384k (including £20,000k for PR038 Investment in Commercial Property Portfolio and £2,896k relating to the Housing Capital Investment Plan) of capital resources from 2016/17 to 2017/18 to fund rephased net capital spending, as detailed in Appendix D - Overview.

Reason for the Decision

As set out in the Officer’s report.

Any Alternative Options Considered and Rejected

Not applicable.

Scrutiny Considerations

The Committee received a report from the Head of Finance.

The Committee resolved by 4 votes to 0 to endorse the recommendation.

The Executive Councillor approved the recommendations.