Issue - meetings

To consider the report of the Chief Officer, Financial Services, on the Council’s financial outturn position for 2016/17 for both revenue and capital. The report also includes the Housing Revenue Account and spending on schools. The current position regarding other key financial health indicators is also highlighted - including Council Tax and Business Rates collection statistics, sundry income, reserves and the prompt payment of creditors.

The Chief Officer (Financial Services) submitted a report presenting the Council’s financial outturn position for 2016/17 for both revenue and capital, and which also included details in respect of the Housing Revenue Account and spending on schools. The report also highlighted the position regarding other key financial health indicators including Council Tax and Business Rates collection statistics, sundry income, reserves and the prompt payment of creditors.

Members discussed the Council’s final outturn position at the close of the 2016/17 financial year, considered the individual outturn position of several directorates, and discussed the proposed use of surpluses, as detailed within the submitted report.

RESOLVED –

(a)  That the outturn position for 2016/17 be noted, and that approval be given to the creation of earmarked reserves, as detailed in paragraphs 3.5 and 5.5 of the submitted report, and that authority to release such reserves be delegated to the Chief Officer (Financial Services).

(b)  That it be noted that the Chief Officer (Financial Services) will be responsible for the implementation of such actions, following the conclusion of the ‘call in’ period.