Issue - meetings

(i)        to note the unaudited final outturn position for financial year 2018/19 as detailed in Appendix 1;

(ii)       to note that the General Fund deficit for the year will be funded by the uncommitted working balance;

(iii)      to note that the Housing Revenue Account and Common Good surpluses for the year increase their working balances;

(iv)      to note that the Housing Revenue Account has acquired sites from the General Fund as approved by Council;

(v)       to approve the various transfers for 2018/19, between Council Reserves and Earmarked sums for the General Fund, Housing Revenue Account, Common Good and Statutory Funds as at 31 March 2019, as detailed in Appendix 1;

(vi)      to approve the updated Loans Fund Repayment Policy as described as ‘Proposed Policy 2018/19’ in Appendix 2;

(vii)     to approve the reprofiling of the 2019/20 – 2023/24 capital programmes to take account of the year end position and that the outcome of this is incorporated into the 2019/20 Quarter 1 reporting;

(viii)    to note that the unaudited Annual Accounts for 2018/19 will be presented to the Audit, Risk & Scrutiny Committee, along with the Annual Governance Statement and Remuneration Report, at its meeting on 30 April 2019; and

(ix)      to approve cost control measures continue to be in place to support the delivery of the 2019/20 budget given the continued uncertainty around reaching agreement on the teachers’ pay award, with effect from 1 April 2018.

With reference to article 6 of the minute of the previous meeting of 25 April 2019, the Committee had before it a report by the Director of Resources which provided information on the financial position of the Council against budget for the financial year 2018/19 including (1) General Fund and Housing Revenue Account (HRA) revenue and capital accounts; and (2) Common Good Revenue Account and Balance Sheet.

The report recommended:-

that the Committee -

(a)       note the unaudited final outturn position for financial year 2018/19 as detailed in Appendix 1;

(b)       note that the General Fund deficit for the year will be funded by the uncommitted working balance;

(c)       note that the Housing Revenue Account and Common Good surpluses for the year increase their working balances;

(d)       note that the Housing Revenue Account has acquired sites from the General Fund as approved by Council;

(e)       approve the various transfers for 2018/19, between Council Reserves and Earmarked sums for the General Fund, Housing Revenue Account, Common Good and Statutory Funds as at 31 March 2019, as detailed in Appendix 1;

(f)        approve the updated Loans Fund Repayment Policy as described as ‘Proposed Policy 2018/19’ in Appendix 2;

(g)       approve the reprofiling of the 2019/20 – 2023/24 capital programmes to take account of the year end position and that the outcome of this is incorporated into the 2019/20 Quarter 1 reporting;

(h)       note that the unaudited Annual Accounts for 2018/19 will be presented to the Audit, Risk & Scrutiny Committee, along with the Annual Governance Statement and Remuneration Report, at its meeting on 30 April 2019; and

(i)        approve cost control measures continue to be in place to support the delivery of the 2019/20 budget given the continued uncertainty around reaching agreement on the teachers’ pay award, with effect from 1 April 2018.

The Committee resolved:-

to approve the recommendations.