Issue - meetings

Report of the Cabinet Member for Finance seeking approval of the General Fund Revenue Outturn 2015/16, attached. 

The report of the Cabinet Member for Finance was submitted seeking approval of the General Fund Revenue Outturn 2015/16.

RESOLVED

(i)  that the final outturn for 2015/16 detailed in Appendix 1 to the report as a balanced position following the transfer to earmarked reserves and the revenue grants reserve totalling £3.25M referred to in paragraph 7 of the report be noted;

(ii)  that it be noted that the level of General Fund balances at 31March 2016 was £12.8M, reducing to £8.9M by 31March 2017;

(iii)  that the performance of individual Portfolios in managing their budgets as set out in paragraph 8 of the report be noted together with the major variances in Appendix 2 to the report;

(iv)  that the carry forward requests totalling £0.13M and as outlined in paragraph 12 and set out in Appendix 3 to the report be approved and be funded from reserves;

(v)  that it be noted that £1.15M had been transferred to the Revenue Grants Reserve as detailed in paragraph 13 of the report.