Issue - meetings

The Board considered a report of the Operational Director, Finance, on the final revenue and capital spending position for 2016/17.

The Board was advised that the final accounts for 2016/17 were near completion; the revenue spending for each Department, which would be subject to external audit, was attached at Appendix 1.

It was reported that the budget savings for 2017/18 were implemented in two sets, the first of which consisted of savings of £7.9m approved by Council in December 2016. As a result of some of these savings being implemented early, they have helped to reduce the in-year overspend position, together with budget managers’ efforts to limit spend to only essential items in the final quarter of the year.

The report provided details on the key budget variances within the following services:-

·       Children and Families;

·       Adult Social Services and Prevention and Assessment;

·       Community and Environment;

·       Economy, Enterprise and Property;

·       ICT and Support Services;

·       Planning and Transportation; and

·       Corporate and Democracy.

Members were advised that the Council’s Reserves and Balances had been reviewed in accordance with the Reserves and Balances Strategy. The Council’s general reserve stood at £4.8m, which was considered to be at a reasonable level given the financial challenges and spending pressures facing the Council.

It was reported that during the new financial year, a review of earmarked reserves would be undertaken in order to establish those which might be released in order to establish a fund to help with balancing the budget in future years.

With regards to Capital Spending, details of spending against the 2016/17 Capital Programme were attached to the report at Appendix 2.It was noted that spending was £37.2m below the revised Capital Programme of £122m. The reason for this being so far below budget was reported as the delay in making the second payment in connection with the Mersey Gateway bridge project.

RESOLVED: That

1)    the report be noted; and

2)    the information within the report be taken into account when reviewing the medium term forecast and saving proposals for future years.