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Decision details

Budget Outturn Report 2016/17

Decision Maker: Co-operative Executive

Decision status: Recommendations Approved

Is Key decision?: Yes

Purpose:

The report provides the Month 12 monitoring statement on the City Council’s Revenue Budget and Capital Programme for 2016/17.

Decision:

9.1

The Acting Executive Director, Resources submitted a report providing the month 12 monitoring statement on the City Council’s Revenue and Capital Budget for 2016/17.

 

 

9.2

RESOLVED: That Cabinet:-

 

 

 

(a)

notes the updated information and management actions provided by the report on the 2016/17 Revenue Budget Outturn;

 

 

 

 

(b)

reviews and considers for the approval the Business Case submission contained in Appendix 7 of the report;

 

 

 

 

(c)

notes the recommendation of the Acting Executive Director, Resources that, as Statutory Finance Officer (s151 Officer), the reserve is returned to the minimum recommended level of £12.6m or approximately 3% of net revenue expenditure during 2017/18;

 

 

 

 

(d)

approves the proposal to un-earmark and transfer £2.9m of the uncommitted New Homes Bonus reserve to the General Fund balance to achieve the recommended position;

 

 

 

 

(e)

in relation to the Capital Programme:-

 

 

 

 

 

(i)

approves the proposed additions to the Capital Programme, listed in Appendix 8.1 of the report, including the procurement strategies, and delegates authority to the Interim Director of Finance and Commercial Services, or nominated officer, as appropriate, to:-

 

(A) award the necessary contracts following stage approval by Capital Programme Group and;

 

(B) determine procurement strategies in relation to the S106 Parks Programme Additional Agreements;

 

 

 

 

 

 

(ii)

approves the proposed variations, deletions and slippages in Appendix 8.1 of the report;

 

 

 

 

 

 

(iii)

approves the capital grant award, detailed in Appendix 8.3 of the report;

 

 

 

 

 

 

(iv)

approves the acceptance of the grant with the conditions detailed in Appendix 8.4 of the report;

 

 

 

 

 

(v)

approves the slippage and budget variations resulting from financial year end closure procedures, as detailed in Appendix 8.6 of the report; and

 

 

 

 

 

 

(vi)

notes the outturn position on the Capital Programme;

 

 

 

 

 

 

 

9.3

Reasons for Decision

 

 

9.3.1

To record formally changes to the Revenue Budget and the Capital Programme and gain Member approval for changes in line with Financial Regulations and to reset the Capital Programme in line with latest information.

 

 

9.4

Alternatives Considered and Rejected

 

 

9.4.1

A number of alternative courses of action were considered as part of the process undertaken by officers before decisions were recommended to Members. The recommendations made to Members represented what officers believed to be the best options available to the Council, in line with Council priorities, given the constraints on funding and the use to which funding was put within the Revenue Budget and the Capital Programme.

 

 

9.5

Any Interest Declared or Dispensation Granted

 

 

 

None

 

 

9.6

Reason for Exemption if Public/Press Excluded During Consideration

 

 

 

None

 

 

9.7

Respective Director Responsible for Implementation

 

 

 

Eugene Walker, Acting Executive Director, Resources

 

 

9.8

Relevant Scrutiny and Policy Development Committee If Decision Called In

 

 

 

Overview and Scrutiny Management Committee

 

Report author: Mike Thomas

Publication date: 28/06/2017

Date of decision: 21/06/2017

Decided at meeting: 21/06/2017 - Co-operative Executive

Effective from: 05/07/2017

Accompanying Documents: