-
Decision details
Final Accounts 2013/14
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
Report on the draft financial out-turn position.
Decisions:
The Head of Finance presented a report which set out the draft final accounts position for 2013/14, the final accounts are subject to audit. The council continuously seeks to improve value for money and overspends and underspends identified in the outturn position are being investigated to inform future budget setting processes and resource allocation.
The Head of Finance advised that there is an improvement of some £900,000 in the net expenditure position compared to the revised budget, once reserve funded items are excluded. The largest variation was in respect of Housing Benefit grant recovery, £386,000, and this area will be closely reviewed for this year’s revised budget and the 2015/16 budget.
Additional revenue grant monies amounting to £723,000 were received subsequent to setting the revised budget. The largest of these being the Coastal Communities Funding, and the unspent balance of £340,000 has been transferred to an earmarked reserve.
In terms of Capital expenditure the actual amount spent was £3,036,000. The net variations column in Appendix C should read £228,000 and not £94,000, and (£4,186,000) and not £161,000.
The Head of Finance submitted an amended recommendation at the meeting.
Councillor Birch moved approval of the amended recommendations, as set out in the resolution below, which was seconded by Councillor Cartwright.
RESOLVED (unanimously) that –
1) Cabinet approves the report and that the 2013-14 outturn position, along with the revised estimate for 2014-15 be taken into account when preparing the 2015-16 budget.
The reason for this decision was:
Compliance with statutory requirements and good practice. The council is accountable for the use of public money and continuously seeks to improve value for money.
The outturn position informs the budget setting process. Where there are under or overspends the reasons behind these are investigated with a view to reallocating resources to meet priorities.
Report author: Peter Grace
Publication date: 03/09/2014
Date of decision: 01/09/2014
Decided at meeting: 01/09/2014 - Cabinet
Effective from: 09/09/2014
-
My council
Contact
Contact us if you have a question about democratic services.
Content
The content on this page is the responsibility of our Democratic Services team.