Issue - meetings

The Board considered a report of the Operational Director, Finance, on the final revenue and capital spending position for 2018/19.

The Board was advised that the final accounts for 2018/19 were near completion; the revenue spending for each department, which would be subject to external audit, was attached to the report at Appendix 1.

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

·       Children and Families;

·       Adult Social Care;

·       Community and Environment;

·       Education, Inclusion and Provision;

·       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. Total revenue spending for the year was £2.4m above budget, and as a result, this would have had the impact of reducing the Council’s General Reserve to £2.6m. At this level, it was considered the General Reserve would be insufficient given the level of increased service pressures and uncertainty regarding future funding cuts and fluctuations in the business rates retained on an annual basis. However, it was reported that a number of earmarked reserves had been reviewed and reductions made where possible, to enable funds to be moved into the General Reserve to increase the balance to a more prudent level.

A breakdown of School’s Balances and spending for 2018/19 was provided, indicating a total of £4.6m at 31 March 2019. Capital spending at 31 March 2019 totalled £21.890m, being 64.6% of the total Capital Programme.

RESOLVED: That

1)    the report be noted; and

2)    the information within the report be taken into account when reviewing the 2019/20 budget monitoring position, medium term forecast and saving proposals for future years.