The subject of the decision:

This report presented the revenue outturn position for the year ending 31 March 2016, which included the position on reserves.  The Statement of Accounts, which was the consolidated financial position of the Council for 2015/16, was the responsibility of the Audit and Governance Committee which would meet on 20 September 2016 to approve the Annual Financial Report – Statement of Accounts.

Alternative options considered:

None.

The reason for the decision:

It is a legal requirement under S25 of The Local Government Act 2003 to set a balanced budget and monitor the financial position throughout the year.

THE DECISION:

That Cabinet approves and recommends to Council:

(1)     that the council tax payers reserve of £524,847 is used to support the outturn position as the year end as detailed in paragraph 2.4 of the report;

(2)     the increase in the use of the One-Off Fund at Quarter 4 £426,732, detailed at paragraph 3.4 and attached at Annex B of the report;

(3)     the sum of £163,000 from the One-Off Fund to assist in the development of the Central Northallerton Prison Site development as detailed in paragraph 4.2 of the report; and

(4)     the decrease in the reserves position £4,381,663, at paragraph 3.2 and detailed in Annex ‘C’ of the report.