Issue - decisions

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 gave an overview of the revenue and capital budget variances with explanations and outlined specific requests to carry forward funding available from budget underspends into 2017/18.

Decision of Executive Councillor for Finance and Resources:

     i.        Agreed to carry forward requests totalling £222,700 revenue funding from 2016/17 to 2017/18, as detailed in Appendix C.

    ii.        Agreed to carry forward requests of £24,045k capital resources from 2016/17 to 2017/18 to fund rephased net capital spending, as detailed in Appendix D.

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 made the following comments in response to the report:

     i.        Sought clarification regarding the £6 million overspend in the general fund capital summary.

    ii.        Queried how the rephasing requests of £31,488k map through to the overall figures for the capital budget across all portfolios.

The Head of Finance said the following in response to Members’ questions:

     i.        The general fund property acquisition for the housing company outlined the breakdown of figures. The capital outturn of £8.5 million was composed of two parts. The first funded the development of housing directly, the second part provided a loan to the housing company. The overspend had been offset by a capital receipt equal to the value of the build spend incurred by the Council.

    ii.        Confirmed that other reports which had gone to scrutiny committees in different portfolios would substantiate the rephrasing request figures, for example housing made a large contribution to this.

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

The Executive Councillor approved the recommendations.