Agenda item

Report of the Managing Director.

The Cabinet Member with the Efficiency and Resources Portfolio introduced the report of the Managing Director (previously circulated) presenting the revenue outturn 2018/19 (subject to Audit), to allow Members to consider the results in light of the Council’s Medium Term Financial Plan (MTFP) and also to consider the Collection Fund and Housing Revenue Account outturn.

The submitted report stated that the draft year end position showed an improvement of £0.131M from the opening balance projections reported in the 2019/20 to 2022/23 MTFP; that a one off Futures Fund of £2.500M had been approved in the 2018/22 MTFP, covering the life of that MTFP, and that the balance would be carried forward into 2019/20; and requesting that consideration be given to additional carry forwards of £0.249M.

RESOLVED – (a) That the revenue outturn for 2018/19, as detailed in the submitted report, be noted.

(b)  That the additional carry forward requests of £0.249M, as detailed in paragraphs 15 to 17 of the submitted report, be approved, and carried forward into 2019/20.

(c)  That the earmarked reserves, requested in paragraphs 28 to 32 of the submitted report, be approved.

REASONS - In order to maintain appropriate management arrangements for the Council’s finances and make effective use of the Council’s resources.