Issue - meetings

2018-19 Financial Outturn Report

Meeting: 10/07/2019 - Cabinet (Item 20)

20 2018-19 Financial Outturn Report pdf icon PDF 170 KB

To consider the report of the Cabinet Member for Performance and Resources informing Members of the final Council position against agreed budgets for the 2018/19 financial year and seeking that the final outturn position be noted and to approve movement to and from earmarked revenue reserves.

Additional documents:

Decision:

RESOLVED:

 

(1) it is noted that:

i. the year-end position for the financial year 2018/19 is an increase to the General Fund balance of £37k.

ii. the General Fund balance has increased from £1.636m to £1.673m at the end of 2018/19.

iii. the savings achieved in year total £150k.

iv. the level of earmarked reserves has reduced by £152k to £4.567m.

 

(2) that the transfers to and from earmarked reserves as detailed in the table in section 6 of the report is approved

Minutes:

Cabinet considered the report of the Cabinet Member for Performance and Resources that informed Members of the final Council position against agreed budgets for the 2018/19 financial year and sought that the final outturn position be noted and movement to and from earmarked revenue reserves be approved.

 

The Cabinet Member for Performance and Resources highlighted the key parts of the report.  The Cabinet Member for Culture and Leisure acknowledged the financial pressures on his portfolio but noted that the net spend had decreased by £268,000 since the 2017/18 outturn position.  He informed Members that he been impressed by the enthusiasm and willingness to adapt to change demonstrated by officers as challenges continue to be addressed.  The Cabinet Member for Communities and Neighbourhoods referred to the financial costs associated with homelessness.  She reassured Members that work is ongoing to tackle the problem with a broad range of measures including the addition of 48 units of temporary accommodation expected to be secured imminently.  The Cabinet Member for Regeneration and Economy commented that although progress had been positive, there were nonetheless areas requiring attention. 

 

RESOLVED:

 

(1) it is noted that:

i. the year-end position for the financial year 2018/19 is an increase to the General Fund balance of £37k.

ii. the General Fund balance has increased from £1.636m to £1.673m at the end of 2018/19.

iii. the savings achieved in year total £150k.

iv. the level of earmarked reserves has reduced by £152k to £4.567m.

 

(2) that the transfers to and from earmarked reserves as detailed in the table in section 6 of the report is approved


 

 
 
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