Issue - decisions

Revenue and Housing Revenue Account Outturn 2015/16

05/09/2016 - Revenue and Housing Revenue Account Outturn 2015/16

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

·           The revenue outturn figures in respect of the last financial year (2015/2016);

·           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 provided in the report submitted were consistent with the figures included within the Statement of Accounts approved by the Responsible Finance Officer on 27 May 2016 and Audit Committee on 19 July 2016.

 

Delegated decisions:

 

1.   That the final outturn for 2015/2016, and explanations for major variances (as detailed in Appendices A, B and C of the report submitted) be noted.

2. That the recommendations of the Interim Executive Director of Resources and Regulation for the minimum level of balances in light of the review of the corporate risk assessments and departmental risk assessments (Section 4 of the report) be endorsed.

3. That the final Revenue Outturn and Housing Revenue Account outturn for 2015/16 be noted along with explanations for major variances.

4. That the level of the General Fund balances be noted.

5.   That the minimum level of the General Fund balance calculated at £4.250m for 2016/2017 be subject to regular review as part of the budget monitoring process.

 

Reason for the decision:

The presentation of an annual report on the Revenue and HRA Outturn is a requirement of the Council’s Financial Regulations, as part of Council’s Financial Procedure Rules.

 

Other option considered and rejected:

To reject or amend the recommendations.