Issue - meetings
Council Financial Performance, Quarter 4, 2018/19
Meeting: 25/04/2019 - City Growth and Resources Committee (Item 6)
6 Council Financial Performance, Quarter 4, 2018/19 - RES/19/014 PDF 90 KB
Additional documents:
- 2. Appendix 1 1819 Q4 ISSUED, item 6 PDF 698 KB
- 3. CGR Appendix 2 1819 Q4 loans fund policy ISSUED, item 6 PDF 110 KB
Decision:
(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.
Minutes:
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.