Andrew Hardingham, Interim Joint Strategic Director Transformation and Change will submit the Financial Outturn 2016 – 2017.

Councillor Darcy (Cabinet Member for Finance/ICT) presented the report on the Financial Outturn 2016 – 2017 for noting.  Council noted:

1.    the provisional outturn position as at 31 March 2017

2.    the use of capital receipts - £0.267m - to write down Minimum Revenue Provision (MRP) to ensure a balanced budget position is achieved in 2016/17.  

3.    the additional transfers to and from reserves reflected within the outturn figures:

·         Release the Business Rates Reserve (£1.000m).

·         Transfer to Housing Benefits Overpayments Provision (£1.000m).

·         Release of Stock Transfer Reserve (£1.005m).

4.    the release of £0.350m from Working Balances and transfer to the Redundancy reserve.

5.    the Capital Report including the Capital Financing Requirement of £90.423m.

Lesa Annear, Strategic Director for Transformation and Change will submit the Financial Outturn 2015 – 2016 (including Capital Programme and Treasury Management).

Councillor Darcy (Cabinet Member for Finance/ICT) presented the report on the Financial Outturn 2015 – 2016 (including Capital Programme and Treasury Management) for noting.  Council noted:

1.           The provisional outturn position as at 31 March 2016.

2.           The adjusted revenue surplus for the year of £0.032m and that this will be transferred to the General Fund Working Balance.

3.           The additional transfers to and from reserves reflected within the outturn figures:

·                Creation of a Modernisation Enabler Reserve                       £1.100m

·                Transfer to Redundancy Reserve                                           £1.000m

·                Release from Insurance Provision and Reserve                     £(0.962)m

·                Transfer to Business Rates Reserve                                       £1.000m

·                Transfer to Pensions Reserve                                                 £0.400m

·                Release from General Fund Bad Debt Provision                   £(0.158)m

·                Transfer to provision for Housing Benefit Overpayments    £0.500m

4.           The Capital Financing Requirement of £62.224m and the borrowing requirement of £11.277m for 2015/16.

5.           The re-profiling changes to the Capital Programme identified during the outturn process.

6.           The additions to the Capital Programme, which total £9.198m for the period November 2015 – March 2016.

7.           The Treasury Management Outturn Position and the new operational and authorised limits for 2015/16 to 2017/18.