Financial Outturn 2017/2018
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
The Portfolio Holder for Finance presented a report from the Head of Finance, Governance and Assurance providing detail of the revenue and capital outturn position for Shropshire Council for 2017/2018.
i. That it be noted that the Outturn for the Revenue Budget for 2017/18 is an underspend of £0.655m, this represents 0.12% of the original gross budget of £563.3m.
ii. That it be noted that the level of general balance after adjusting for the underspend and insurance position stands at £15.436m, which is above the anticipated level assessed in February 2017.
iii. That it be noted that the Outturn for the Housing Revenue Account for 2017/18 is an underspend of £0.007m and the level of the Housing Revenue Account reserve stands at £8.225m (2016/17 £9.031m).
iv. That the increase in the level of Earmarked Reserves and Provisions (excluding delegated school balances) of £8.026 in 2017/18 and the reasons for this, be noted.
v. That the level of school balances stand at £5.381 (2016/17 £6.280m), be noted.
vi. That net budget variations of £1.472m to the 2017/18 capital programme be approved, detailed in Appendix 5/Table 11 and the re-profiled 2017/18 capital budget of £59.748m.
vii. That the re-profiled capital budgets of £61.795m for 2018/19, including slippage of £10.140m from 2017/18, £25.986m for 2019/20 and £15.568m for 2020/21 be approved, as detailed in Appendix 5 /Table 15.
viii. That the outturn expenditure be accepted as set out in Appendix 5 of £49.608m, representing 83% of the revised capital budget for 2017/18.
ix. That retaining a balance of capital receipts set aside of £20.857m as at 31st March 2018 to generate a one-off Minimum Revenue Provision saving of £0.485m in 2018/19, be approved.
Publication date: 25/05/2018
Date of decision: 23/05/2018
Decided at meeting: 23/05/2018 - Cabinet
Effective from: 05/06/2018