This report presents the revenue outturn position for the year ending 31 March 2019, which includes the position on reserves.

In accepting the recommendations, Cabinet will approve and recommend to Council the transfer to the Council Tax Payers reserve of £884,845 as detailed in paragraph 2.5 of the report, which represents the underspend of £149,765, increased business rates received of £617,744, and increased additional grant received of £117,336; the transfer of the One-Off allocation in paragraph 4.1 of the report totalling £48,910 and £50,000 from the Council Tax Payers Reserve to the Repairs and Maintenance reserve as stated in paragraph 4.2 of the report; to note the waiver of procurement rules in paragraph 6.1 of the report; to note the position of the Community Infrastructure Levy (CIL) in paragraph 5.1 of the report; the increase in the use of the One-Off fund at Quarter 4 of £47,471, detailed in paragraph 3.5 and attached at Annex B of the report; and the increase in the reserve position of £1,712,822 at paragraph 3.2 and detailed in Annex C of the report.

The subject of the decision:

This report presented the revenue outturn position for the year ending 31 March 2019, which included the position on reserves. The Statement of Accounts, which was the consolidated financial position of the Council for 2018/19, was the responsibility of the Audit and Governance Committee which would meet on 23 July 2019 to approve the Annual Financial Report – Statement of Accounts.

Alternative options considered:

None.

The reason for the decision:

To comply with the 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)     the transfer to the Council Tax Payers reserve of £884,845 as detailed in paragraph 2.5 of the report, which represents the underspend of £149,765, increased business rates received of £617,744, and increased additional grant received of £117,336;

(2)     the transfer of the One-Off allocation in paragraph 4.1 of the report totalling £48,910 and £50,000 from the Council Tax Payers Reserve to the Repairs and Maintenance reserve as stated in paragraph 4.2 of the report;

(3)     the waiver of procurement rules in paragraph 6.1 of the report be noted;

(4)     the position of the Community Infrastructure Levy (CIL) in paragraph 5.1 of the report be noted;

(5)     the increase in the use of the One-Off fund at Quarter 4 of £47,471, detailed in paragraph 3.5 and attached at Annex B of the report be approved; and

(6)     the increase in the reserve position of £1,712,822 at paragraph 3.2 and detailed in Annex C of the report be approved.