Lead Member – Councillor Peter Nutting – Leader and Portfolio Holder for Strategy

Report of the Head of Finance, Governance and Assurance [Section 151 Officer]  TO FOLLOW

Contact: James Walton      Tel: 01743 255001

RESOLVED:

i.      That it be noted that the Outturn for the Revenue Budget for 2016/17 is an underspend of £1.023m, this represents 0.18% of the original gross budget of £568.8m.

ii.    That it be noted that the level of general balance stands at £14.827m, which is above the anticipated level.

iii.   That it be noted that the Outturn for the Housing Revenue Account for 2016/17 is an underspend of £1.417m and the level of the Housing Revenue Account reserve stands at £9.031m (2015/16 £5.824m).

iv.   That the increase in the level of Earmarked Reserves and Provisions (excluding delegated school balances) of £2.508m in 2016/17 be noted.

v.    That it be noted that the level of school balances stand at £6.280m (2015/16 £7.173m).

vi.   That net budget variations of £0.481m to the 2016/17 capital programme, detailed in Appendix 5/Table 6 and the re-profiled 2016/17 capital budget of £54.432m be approved.

vii.  That the re-profiled capital budgets of £80.529m for 2017/18, including slippage of £9.288m from 2016/17, £26.081m for 2018/19 and £2.320m for 2019/20 as detailed in Appendix 5 /Table 9, be approved.

viii.That the outturn expenditure set out in Appendix 5 of £44.986m, representing 83% of the revised capital budget for 2016/17, be accepted.

ix.   That retaining a balance of capital receipts set aside of £18.370m as at 31st March 2017 to generate a one-off Minimum Revenue Provision saving of £0.418m in 2017/18, be approved.

The Head of Finance, Governance and Assurance presented the report providing details of Shropshire Council’s revenue and capital outturn position for 2016/17.  Members noted the net underspend of £1.023m, a variance of 0.18% on the gross budget and the details of the underspend within the report.

Referring to the outturn capital expenditure, it was noted that this stood at £44.986m for 2016/17, representing 83% of the re-profiled budget of £54.432m. 

A Member commented on paragraphs 14.3 and 14.4 of the report relating to the use of capital receipts.  Responding, the Leader gave assurances that ways to improve returns would be investigated and he was confident that reasonable capital would be received.  He added that conversations would begin in earnest in the Autumn once the new Cabinet had had time to settle.

Responding to a Member’s concerns regarding Broadband, the Leader stressed the need to ensure effective spend in this area as Broadband remained patchy in areas throughout the county both rural and urban.

RESOLVED:

i.      That it be noted that the Outturn for the Revenue Budget for 2016/17 is an underspend of £1.023m, this represents 0.18% of the original gross budget of £568.8m.

ii.    That it be noted that the level of general balance stands at £14.827m, which is above the anticipated level.

iii.   That it be noted that the Outturn for the Housing Revenue Account for 2016/17 is an underspend of £1.417m and the level of the Housing Revenue Account reserve stands at £9.031m (2015/16 £5.824m).

iv.   That the increase in the level of Earmarked Reserves and Provisions (excluding delegated school balances) of £2.508m in 2016/17 be noted.

v.    That it be noted that the level of school balances stand at £6.280m (2015/16 £7.173m).

vi.   That net budget variations of £0.481m to the 2016/17 capital programme, detailed in Appendix 5/Table 6 and the re-profiled 2016/17 capital budget of £54.432m be approved.

vii.  That the re-profiled capital budgets of £80.529m for 2017/18, including slippage of £9.288m from 2016/17, £26.081m for 2018/19 and £2.320m for 2019/20 as detailed in Appendix 5 /Table 9, be approved.

viii.That the outturn expenditure set out in Appendix 5 of £44.986m, representing 83% of the revised capital budget for 2016/17, be accepted.

ix.   That retaining a balance of capital receipts set aside of £18.370m as at 31st March 2017 to generate a one-off Minimum Revenue Provision saving of £0.418m in 2017/18, be approved.