Issue - meetings

Report of Head of Finance and Procurement

Summary

This report summarises the Council’s provisional Revenue and Capital performance for the financial year 2011/2012 and reports on performance against the procurement action plan.  The figures are still subject to further validation work to ensure compliance with statutory requirements and proper accounting practices.

Recommendations

The Executive is recommended:

(1)               To note the provisional revenue out-turn position for 2011/2012 detailed in Appendix 1.

(2)               To agree the carry forward of budget underspends within 2011/2012 to 2012/13 as detailed in Appendix 1.

(3)               To note the transfer to general fund balances as detailed in Appendix 1.

(4)               To note the continued improvement in accuracy and reliability that the Council has made in projecting the year end position through the embedding of the Corporate Dashboard.

(5)               To note the provisional capital out-turn position for 2011/2012 detailed in Appendix 2a.

(6)               To agree the balances on capital schemes which have slipped in 2011/2012 to be carried forward into the 2012/2013 capital programme as set out in Appendix 2b.

(7)               To note progress against the Councils Procurement Action plan – Appendix 3 and savings achieved Appendix 4.

(8)               To note the review of reserves undertaken by the Head of Finance & Procurement and the Lead Member for Financial Management detailed in Appendix 5.

(9)               To delegate responsibility to the Head of Finance and Procurement in consultation with the Lead Member for Financial Management to consider and implement further changes relating to all aspects of the closedown of the accounts for 2011-12 including the transfer of costs from revenue to capital, amendments of the revenue and capital budgets and implementation of a minimum revenue provision accordingly.

Recommendations approved.

The Head of Finance and Procurement submitted a report which summarised the Council’s provisional Revenue and Capital performance for the financial year 2011/2012 and reported on performance against the procurement action plan.The figures were still subject to further validation work to ensure compliance with statutory requirements and proper accounting practices.

Resolved

(1)               That the provisional revenue out-turn position for 2011/2012 be noted.

(2)               That the carry forward of budget underspends within 2011/2012 to 2012/13 be agreed.

(3)               That transfer to general fund balances as detailed be noted.

(4)               That the continued improvement in accuracy and reliability that the Council has made in projecting the year end position through the embedding of the Corporate Dashboard be noted.

(5)               That provisional capital out-turn position for 2011/2012 detailed in be noted.

(6)               That it be agreed that the balances on capital schemes which have slipped in 2011/2012 be carried forward into the 2012/2013 capital programme.

(7)               That progress against the Councils Procurement Action plan and savings achieved be noted.

(8)               That the review of reserves undertaken by the Head of Finance & Procurement and the Lead Member for Financial Management be noted.

(9)               That authority be delegated to the Head of Finance and Procurement, in consultation with the Lead Member for Financial Management, to consider and implement further changes relating to all aspects of the closedown of the accounts for 2011-12 including the transfer of costs from revenue to capital, amendments of the revenue and capital budgets and implementation of a minimum revenue provision accordingly.

Reasons

This report illustrates the Council’s provisional performance against the 2011/2012 Revenue and Capital Budget and progress achieved against our Procurement action plan and targets.

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