Issue - meetings

Report of Deputy Chief Executive

Lead Cabinet member: Councillor Giles

(Key decision):

(1) To agree the financial position on the General Fund, Housing Revenue Account and Collection Fund accounts for 2017/2018.

(2) To confirms the allocation of reserves at 31 March 2018 shown at paragraph 2.9 of the report.

(3) To agree the capital programme outturn for 2017/2018, as set out at appendix 2 to the report.

(4) To approve the updated 2018/2019 capital programme, as set out at appendix 3 to the report.

(5) To approve the write-off of irrecoverable debts noted in paragraph 4.5 of the report.

Recommended to Council (Budget and policy framework):

(6) To approve the annual treasury management report for 2017/2018, as set out at appendix 4 to the report.

The Cabinet considered the report of the Deputy Chief Executive regarding the council’s financial performance in 2017/18 and outlining the impact on the Council’s current financial position.

In response to a question from visiting member Councillor Gardiner, the Deputy Chief Executive confirmed that the majority of housing benefit overpayments detailed in the report was claimant errors.

Resolved (Key decision):

(1) To agree the financial position on the General Fund, Housing Revenue Account and Collection Fund accounts for 2017/2018.

(2) To confirms the allocation of reserves at 31 March 2018 shown at paragraph 2.9 of the report.

(3) To agree the capital programme outturn for 2017/2018, as set out at appendix 2 to the report.

(4) To approve the updated 2018/2019 capital programme, as set out at appendix 3 to the report.

(5) To approve the write-off of irrecoverable debts noted in paragraph 4.5 of the report.

Recommended to Council (Budget and policy framework):

(6) To approve the annual treasury management report for 2017/2018, as set out at appendix 4 to the report.

Reasons for decisions:

(1) At the end of the financial year, Cabinet should review the impact of the financial performance on its current financial position, determine the level of Reserves available for use and variations, if any, which may be required to the revenue budget or capital programme.

(2) The Council’s Treasury Management function deals with very large value transactions on a daily basis. It is essential that the Council is satisfied that appropriate controls are in place and in accordance with the Code of Practice on Treasury Management in the Public Services (the Code) prepared by CIPFA (the Chartered Institute of Public Finance and Accountancy) and adopted by the Council. The Code requires the Council to receive an Annual Treasury Management Report at the end of each financial year.