Issue - meetings

RESOLVED That:

1)        the outturn position of the revenue budget and the level of forecast balances in respect of the General Fund, Housing Revenue Account, Schools Block and the Authority’s investment portfolio be noted; 

2)        the General Fund carry forward requests of £297,000, as set out in Appendix F to the report, be agreed.

The Executive considered a report setting out the outturn position of the revenue budget, general fund including carry forward requests, Housing Revenue Account, Schools Block and the Authority’s investment portfolio.

The Executive Member for Economic Development and Finance thanked the Council’s Financial Team and Officers throughout the Council for managing to balance the budget, bearing in mind the issues that had arisen during the year that had suggested a potential overspend, and also for the small number of carry forwards proposed.  Councillor Pollock confirmed that the final position of the revenue budget was a £30k underspend; the Housing Revenue Account an underspend of nearly £1m, which was effectively recycled spending on the Council’s housing stock; and the Schools Block was an overspend of £22k.

The Executive Member for Environment highlighted the £10k carry forward for jubilee tree maintenance and the benefit of this money which was being spent on maintaining the 60 oak trees that had been planted around the Borough as part of the Diamond Jubilee celebrations.

RESOLVED That:

1)        the outturn position of the revenue budget and the level of forecast balances in respect of the General Fund, Housing Revenue Account, Schools Block and the Authority’s investment portfolio be noted; 

2)        the General Fund carry forward requests of £297,000, as set out in Appendix F to the report, be agreed.