Year end reports on the revenue and capital spending against the agreed budget

Councillor Phil Davies introduced a report by the Director of Resources which detailed the Out-turn for 2013/14 and concluded the reporting to Cabinet for the 2013/14 financial year. There were separate Appendices for Revenue (including details of the reserves and provisions), Capital (including the resources used to fund the programme) and the Collection Summary (including Council Tax, Business Rates and Sundry Debts).

Councillor P.Davies congratulated the officers for all their hard work in achieving the £5 million pounds underspend reported within the report.

RESOLVED: That

Revenue

(1)  The Revenue Out-turn for 2013/14, which showed an underspend of £5 million which is more favourable than the £1 million projected at Month 10 be noted.

(2)  the transfer of the underspend to the Re-Modelling Reserve be agreed.

(3)  the Reserves as detailed in the Annex be agreed.

Capital

(4)  the re-profiling of £10.9 million from 2013/14 to 2014/15 be noted;

(5)  the financing of the Programme for 2013/14 be noted;

(6)  the Programme for 2014/15 be rigorously reviewed to ensure that it was realistic and deliverable in order to minimise the ongoing need for the reprofiling of the agreed Programme.

Collection Summary

(7)   the Council Tax in-year collection rate being 95.4% and 0.3% above the projected target; and

(8)   the Business Rates collection rate increased from 95.3% to 96.9% in 2013/14; and

(9)   the Sundry Debtors arrears at 31 March 2014 showed a reduction of £6.5 million on the position at 31 March 2013 be noted.