Issue - meetings
Final Accounts 2016/17
Meeting: 17/07/2017 - Cabinet (Item 14)
The Assistant Director, Financial Services and Revenues, submitted a reportwhich set out the draft final accounts position for 2016/17. The draft accounts are subject to an external audit.
The Accounts and Audit Regulations, required the council’s section 151 officer to certify the statement of accounts by 30 June each year and to publish them by 30 September.
The final accounts set out variances in the council’s income and expenditure since the budget was set for 2016/17, the report included the outturn results for the general fund and capital programme for this period. The council continuously seeks to improve value for money and any over or underspends identified in the final accounts were being investigated to help inform the budget setting process for future years.
Councillor Chowney proposed approval of the recommendations to the Assistant Director, Financial Services and Revenues, report which was seconded by Councillor Poole.
RESOLVED (unanimously) that:
1. Cabinet has reviewed the outturn position on the General Fund for 2016/17
2. Cabinet has reviewed the capital outturn position for 2016/17, and;
3. The 2016/17 outturn position, along with the revised estimates for 2017/18 be taken into account when preparing the 2018/19 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.