Issue - decisions

Year End 2017/18 Joint Finance and Performance Report

20/07/2018 - Year End 2017/18 Joint Finance and Performance Report

RESOLVED that Cabinet:

 

A       Acknowledged the outturn position set out in section three of Appendix A to this report for the year ending 31 March 2018 (1 April 2017 – 31 March 2018), subject to recommendations in paragraphs 17 to 19, as follows:

 

i)    An under-spend on controllable service budgets of £807,000 or -1.34 percent of the gross General Fund budget;

 

ii)  A total general fund underspend of £1,276,000 (-2.12 percent of the gross General Fund Budget) after including the impact of windfall income and non-controllable items; and

 

iii) A General Fund balance of £4,321,000 after adjustments for the recommended transfers to reserves, carry forward requests and other one off proposals as set out in this report.

 

B      Recognised the operational performance that has been achieved across all the Council services during 2017/18.

 

C      Approved:

 

i)    The carry forward of £137,300 of budgets from 2017/18 to 2018/19 as set out in paragraph 17 of the report;

 

ii)  The transfer to reserves of £592,811 as set out in paragraph 18 of the report;

 

iii) The transfer of £500,000 to the Harlow and Gilston Town Funding Reserve;

 

iv) The utilisation of future receipts from the Ram Gorse development for the purpose of enabling the balance of funding to deliver the new splash parks to be made available; and

 

v)  The transfer of £26,000 to the Discretionary Services Fund as set out in paragraph 19(c) of this report in support of future Community Wellbeing initiatives.