A report was received from the Director of Finance to inform Cabinet of the revenue and capital outturns for financial year 2015/16. 

The report had also been considered at Budget Panel on 28 June and the minutes were circulated at the meeting.

Councillor Watkin introduced the report and explained it was the final report on last year’s financial performance.  There had been an overspend on the temporary accommodation budget.  However, the council had managed to achieve significant improvements to commercial rent income and income from kerbside recycling.  There would be £1.19m carried forward to 2016/17.

Councillor Watkin continued that with regards to capital expenditure there would be £9.125m re-phased into 2016/17.  There was major investment into the borough which was seen as a key priority.  However, there was also uncertainty about the future particularly the relationship with Europe following the recent referendum result.

RESOLVED

That Cabinet:

1.         considered the revenue outturn as summarised at Paragraph 4.1, and supplementary notes at Appendices 1 to 5 and notes the year end position, which includes carry forwards.

2.         approves the 2015/16 budget carry forwards into 2016/17 as recommended by Leadership Team totalling £1.190 million as detailed at Appendix 3. 

3.         considered the capital outturn as summarised at Paragraph 5.1 and shown in detail in Appendix 5.  Cabinet confirms the re-phasing of £9.125 million into 2016/17.