Issue - meetings

(a)       That the Revenue Budget Monitoring (outturn) report for 2016/17 be accepted;

(b)       That the Capital Programme (outturn) report for 2016/17 be accepted; and

(c)       The Committee confirmed that there are no specific issues to be brought to the attention of the Cabinet.

The Corporate Finance Manager presented a report on the revenue budget monitoring 2016/17 (outturn) for the Council Fund and Housing Revenue Account (HRA) and the Capital Programme 2016/17 (outturn), prior to consideration by Cabinet.

Revenue Budget Monitoring

The final position (subject to audit) reported a net in-year operating deficit of £0.846m.  The overall outturn included a positive impact from the change in Minimum Revenue Provision (MRP) accounting policy which effectively eliminated the operating deficit with net spend being £2.039m lower than budget.  The report superseded the month 12 position previously reported to Cabinet (appended as a link to the documents).  A brief overview was given on the main movements for the year with details of significant movements since month 12.  An update was also given on contingency reserves and the programme of efficiencies on which an improvement was shown on the previous year.  The main changes within earmarked reserves included a significant reduction in the Single Status Reserve due to the continuing draw down of funding to meet approved costs.

On the HRA, the net in-year expenditure was £0.018m lower than budget, with a closing balance of £1.116m representing 3.5% of total expenditure (above the minimum 3% recommended level).

During explanation on the MRP accounting policy change, attention was drawn to the Council report of 6 December 2016.

Councillor Richard Jones questioned the interpretation of wording on the outcome of the position on Revenue Support Grant (RSG) funding.  The Chief Executive clarified the strong stance taken by Flintshire as part of collective local government lobbying WG for a fairer funding settlement which had resulted in a more favourable outcome than expected.

In response to a query by Councillor Haydn Bateman, officers explained about the approach to building up Winter Maintenance reserves and the use of Single Status reserves.

Following a request by Councillor Patrick Heesom, the Corporate Finance Manager agreed to provide a breakdown of the proportion of contingency reserves used to meet the impact of community asset transfers.

Capital Programme

A table showing changes to the programme during 2016/17 indicated a revised budget of £65.968m.  Since the last quarter, there was a net increase in the programme total of £5.918m as detailed in sections 1.06-1.08.  The total amount to be carried forward into 2017/18 was £3.589m which was a significant reduction on the previous year.  An update on the funding of 2016/17 approved schemes reported the availability of £5.066m which was earmarked to fund future capital schemes.

RESOLVED:

(a)       That the Revenue Budget Monitoring (outturn) report for 2016/17 be accepted;

(b)       That the Capital Programme (outturn) report for 2016/17 be accepted; and

(c)       The Committee confirmed that there are no specific issues to be brought to the attention of the Cabinet.