Meeting documents

SSDC District Executive
Thursday, 4th June, 2015 9.30 am

  • Meeting of District Executive, Thursday 4th June 2015 9.30 am (Item 8.)

Decision:

RESOLVED:

That District Executive:-

 

a.

noted the outturn position of £16,477,111 (an under spend of £1,403,919) and explanation of variances from budget holders for the 2014/15 financial year as shown in paragraphs 7-8;

 

b.

approved the carry forwards listed and recommended for approval by Management Board in Appendix B into the 2015/16 budgets;

 

c.

approved all overspends are funded from general balances;

 

d.

noted the use of the specific reserves in paragraph 21 and approve the set-up of a treasury management volatility as detailed in paragraph 9;

 

e.

noted the use of general fund balances in paragraph 22;

 

f.

noted the transfers to and from balances outlined in paragraph 25;

 

g.

noted the position of the Area Committee balances in paragraph 26;

 

h.

noted the virements in Appendix G;

 

i.

noted the stock write offs detailed in paragraph 29.

Reason:

To review and confirm the outturn of the revenue budgets of the Council for 2014/15.

 

Minutes:

The Portfolio Holder for Finance and Legal Services introduced the report and advised that the overall underspend figure also included additional income from the planning service which had not been predicted and was not expected to continue. 

In response to a question from the Scrutiny Committee, the Assistant Director (Finance and Corporate Services) advised that due to the changes in Business Rates from 1st April whereby SSDC kept a share (the Business Rate Retention Scheme), the Government had provided compensation for the various grants they had provided to businesses affected by flooding.  She also confirmed that the budget underspend would be used to support the 2015/16 budget. 

There was no debate and Members were content to confirm the 2014/15 revenue budget outturn as reported.

RESOLVED:

That District Executive:-

 

a.

noted the outturn position of £16,477,111 (an under spend of £1,403,919) and explanation of variances from budget holders for the 2014/15 financial year as shown in paragraphs 7-8;

 

b.

approved the carry forwards listed and recommended for approval by Management Board in Appendix B into the 2015/16 budgets;

 

c.

approved all overspends are funded from general balances;

 

d.

noted the use of the specific reserves in paragraph 21 and approve the set-up of a treasury management volatility as detailed in paragraph 9;

 

e.

noted the use of general fund balances in paragraph 22;

 

f.

noted the transfers to and from balances outlined in paragraph 25;

 

g.

noted the position of the Area Committee balances in paragraph 26;

 

h.

noted the virements in Appendix G;

 

i.

noted the stock write offs detailed in paragraph 29.

Reason:

To review and confirm the outturn of the revenue budgets of the Council for 2014/15.

 

Supporting documents: