Issue - meetings

A report from the Deputy Leader of the Council and Cabinet Member for Finance and Housing is attached.

The Deputy Leader and Cabinet Member for Finance and Housing submitted a report providing details of:

·      Revenue outturn figures in respect of the last financial year, 2014/2015,   detailing any specific carry-forward requests and the proposed application of the carry-forward rules;

·      Major variances between the revised estimate and the outturn;

·      Level of school balances;

·      Housing Revenue Account outturn for the year;

·      Minimum level of balances in the light of risk assessments

The figures in the report are consistent with the figures included within the Statement of Accounts which were approved by the Responsible Finance Officer on 5 June 2015 and will be presented to Audit Committee on 15 July 2015.

Questions and comments were invited from the Committee and the following issues were raised:

·         The Chair, Councillor Gartside, referred to the recent Airport dividend and expressed concern that the Council may be overly reliant on this funding. The Deputy Leader reported that the under spend was largely a result of prudent treasury management.

·         With regard to the issue of voids within the Millgate, the Deputy Leader referred to positive recent activity and espoused the benefits to the wider economy of having as many shop units as possible filled.

·         In response to a question from Councillor Daly concerning the level of school balances, the Deputy Leader explained that a review was currently underway within Children’s Services to assess balances and seek justification for balances which seem excessively high.

It was agreed:

That the report be noted.

The Deputy Leader and Cabinet Member for Finance and Housing submitted a report providing details of:

·        the revenue outturn figures in respect of the last financial year, 2014/2015, detailing any specific carry-forward requests and the proposed application of the carry-forward rules;

·        major variances between the revised estimate and the outturn;

·        the level of school balances;

·        Housing Revenue Account outturn for the year;

·        The minimum level of balances in the light of risk assessments

The figures in the report are consistent with the figures included within the Statement of Accounts which were approved by the Responsible Finance Officer on 5 June 2015 and will be presented to Audit Committee on 15 July 2015.

Delegated decisions:

1.           That in view of the Council’s financial situation and the budget pressures faced in 2015/2016 and future years approval be given that the normal cash ceiling rules governing the carry forward of over and underspendings be suspended and that:-

a)   The final Revenue Outturn and Housing Revenue Account Outturn for 2014/2015 and the explanations for major variances as referred to in Appendices A, B and C of the report submitted be noted;

b)   Overspendings in the departments of Children, Young People and Culture and Communities & Wellbeing are not to be carried forward;

c)   The level of the General Fund balances be noted;

d)   The minimum level of the General Fund balance to be retained at £4.5m subject to regular review as part of the budget monitoring process.

Reason for the decision:

There is a requirement to present an annual report on the Revenue and Housing Revenue Account as part of the Council’s Financial Procedure rules.

Other option considered and rejected:

To reject the recommendations.