71 Revenue and Housing Revenue Account Outturn Report 2017/2018 PDF 326 KB
A report from the Cabinet Member for Finance and Housing is attached.
Minutes:
Steve Kenyon, Interim Executive Director of Resources and Regulation submitted a report from the Cabinet Member for Finance and Housing.
The report provided Members with the details of:
· The revenue outturn figures in respect of the last financial year (2017/2018).
· Major variances between the revised estimate and the outturn;
· The level of school balances;
· HRA outturn for the year;
· The minimum level of balances in the light of risk assessments
Those present were given the opportunity to make comments and ask questions and the following points were raised:-
Councillor O’Brien explained that the £844,000 as set out in the report was a lot better that was forecast at month 9 and was 0.6% of the net budget. It was explained that the Council would be self-reliant by 2020 but will still retain the £9m of demand pressures. It was explained that varied measures were in place year on year to reduce the deficit.
Steve Kenyon explained that this related to the Communities and Wellbeing Improved Better Care Fund. The fund was in place to the financial year 2019/2020 but beyond that it wasn’t known.
Steve Kenyon explained that there was a breakdown in the table at 2.3 of the report that highlighted the significant demand pressures. The Council were borrowing at a fixed rate and economic trends were out of their control. The current investment yield was low but this due to the economy nationally.
Councillor O’Brien explained that this work was part of the Transformation agenda to prevent as well as intervene. SEN cases had increased in numbers as well as complexity over the past few years. The Council had earmarked half a million pounds from the budget to protect children’s centres in order for the prevent work to continue. It was also explained that Councillor Briggs would be presenting a report to Cabinet promoting Schools’ stronger relationships with families. There was a lot of work being carried out across Greater Manchester and the Council were benefiting from this.
It was explained that the Council was working together with the CCG which would allow greater pooling of budgets, more streamlining and better service outcomes. It was also explained that the development of Persona allows for services ... view the full minutes text for item 71