Agenda item
Provisional Revenue and Capital Outturn Report 2016-17
The Committee are asked to note the provisional outturn report that sets out the position at the end of the financial year; this gives Members an opportunity to consider the final outturn position against the information provided during the course of the year and also to evaluate the Council’s overall financial performance.
Minutes:
Councillor David Edgar (Cabinet Member for Resources) and Neville Murton (Divisional Director Finance, Procurement and Audit) presented a report that detailed the provisional outturn position of the Council for the financial year 2016-17. It was also noted that unlike in previous budget management reports this document is based on the actual position for the year rather than estimates and projections and forms the basis of the final accounts for the 2016-17 financial year. The information was therefore presented to reflect the Council’s new structure which was implemented in January 2017. The Committee noted that the provisional position set out in the report was subject to changes arising from the production of the statutory statement of accounts and their subsequent audit review. The report included the following details of:-
- General Fund Revenue Account;
- Housing Revenue Account (HRA);
- General Fund and HRA Capital expenditure and financing;
- Summary of reserve movements;
- 2016-17 final savings position; and
- The Council’s Balance Sheet at 31st March 2017.
The questions and comments from Members on the report are outlined as follows:
The Committee:
- Noted that the overall the Council’s provisional outturn positon is underspent by £0.733m which is in line with the £0.7m reported to Cabinet in March;
- Observed that the closing balance on the General Fund (Reserve) is £31.7m, which is broadly in line with the projections made in the MTFS reported in Feb 2017;
- Was informed that the provisional outturn for the Housing Revenue Account (HRA) is a surplus of £9.1m which is an adverse movement of £2.1m above the position reported to Cabinet in March for period 9. This difference reflects the decision to purchase a property in March which was partly funded through the use of revenue resources and where the decision was taken after the previous outturn projection had been completed;
- Noted within the overall Capital Programme (i.e. General Fund and HRA) 82% of the revised capital budget for 2016-17 was achieved (£79.9m against budgets of £97.3m). The original Capital Programme approved for 2016-17 which included a number of indicative schemes totalled £228m. All capital expenditure in 2016-17 was fully funded from available resources including additional borrowing of c£2m;
- Was advised the report also included a number of key indicators taken from the Council’s balance sheet that provided a ‘snapshot’ of the overall financial health and efficiency of the Council’s business. This included information relating to the Council’s earmarked reserves and its Collection Fund;
- Commented that there were 6,000 empty homes in the Borough and wanted to know how these might be utilised for the 20,000 residents on the housing waiting list. In response it was noted that this is something that would need to be discussed with officers and that this item could then come to the Housing Scrutiny Sub-Committee;
- Noted both the underspend in the Disabled Facilities Grant (DFG) and two year old places in the capital budget. In reply it was noted that this would need to be referred to the responsible service area if further detail above that set out in the relevant appendix was required;
- Asked about the proportion of council tax coming from self-employed residents and the impact of the Council Tax Reduction Scheme (CTRS) on these individuals. In reply it was noted that whilst those affected are a very small proportion of the overall number of CTRS claimants the impact upon them is being explored;
- Asked why there had been a decline in the General Fund Reserve. In response it was noted that this is mainly attributable to the work on the new Civic Centre and a review of level of all earmarked reserves, but the overall level of reserves continued to provide sufficient resilience.
Action
The Chair Moved and it was:-
RESOLVED
That:
- Consideration is given to placing an empty homes item on the Housing Scrutiny Sub-Committee Forward Plan.
Supporting documents:
- Provisional Revenue and Capital Outturn Report 2016-17 Cover Sheet, item 7.2 PDF 58 KB
- Provisional Revenue and Capital Outturn Report 2016-17, item 7.2 PDF 325 KB
- Appendix 1 - Capital, item 7.2 PDF 64 KB
- Appendix 2 - Savings Tracker 2016-17, item 7.2 PDF 50 KB