The Head of Finance, Governance and Assurance [section 151 Officer] presented the revised report that had been produced as a result of a minor error identified in the matching of the Housing Benefit Subsidy Grant and expenditure; this error had been corrected and the report resubmitted as a final and unambiguous copy for future reference for Cabinet approval.

RESOLVED:

      i.        That the Outturn for the Revenue Budget for 2016/17 be noted and is an underspend of £0.894m, this represents 0.16% of the original gross budget of £568.8m.

    ii.        That the level of general balance be noted and stands at £14.698m, which is above the anticipated level.

   iii.        That the Outturn for the Housing Revenue Account for 2016/17 be noted and 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 the level of school balances stand at £6.280m (2015/16 £7.173m) be noted.

   vi.        Approve 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.

  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.