Decision details

Cabinet consider the head of finance’s report on the financial outturn position for 2011/12.  The council’s net revenue expenditure for the year was £1.067 million under-spent.  After carrying £334,000 forwards to the current financial year, this allowed the council to transfer £701,000 to general fund balances.  This would improve the council’s financial position as it headed towards a challenging budget-setting process for 2013/14.  However, there was still pressure on the council’s reserves during the five-year period of the medium term financial plan.  There had also been some slippage in the capital programme. 

Cabinet noted that the most significant variance was in the planning service where the income from planning applications was above the expected level.  Cabinet recognised that there were issues over budget forecasting accuracy but noted that there had been recent improvements. 

The chairman agreed to answer Councillor Hoddinott’s questions outside the meeting. 

RESOLVED: To

(a)               note the overall outturn position of the council in 2011/12 as well as the outturn of individual service areas;

(b)               take into account the impact of the 2011/12 outturn position in the integrated service and financial planning process when setting the 2013/14 original budget; and

(c)               note the slippage in the capital programme to 2012/13.