Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: No
Final budget outturn for previous financial year.
The report presented the outturn revenue position for the General Fund and the Housing
Revenue Account for the 2018/19 financial year. It also presented the capital outturn for
capital works and how these had been financed, reserve transfers and a treasury
management update. The Cabinet’s last update in February, based on the third quarter
position, had forecast a General Fund deficit of £104,000. Since then there had been a
slightly improved position through the last quarter, with a final outturn position of
£72,000. The Portfolio Holder introduced the report and drew attention to the tabled
paper which reported some minor adjustments to the figures. He also thanked the staff
who worked so hard on compiling the reports and his predecessor as Portfolio Holder,
Both the Portfolio Holder and the Leader drew attention to the creation of an Economic
Risk Fund which had now been significantly increased to £2.7m. It was considered that
this demonstrated the resilience of the Council’s treasury management arrangements,
which were a vital part of allowing the Authority to be independent of Government Grant
and to be able to continue offering the lowest Council Tax in Kent.
(i) the financial outturn for 2018/19 be noted.
(ii) the Annual Treasury Management position and the strategic treasury
management review, shown at Appendix B to the report, be noted.
(iii) the increase in the Coachworks budget from £850,000 to £950,000 be
Contact: Maria Stevens Email: email@example.com Tel: 01233 330547.
Publication date: 21/06/2019
Date of decision: 13/06/2019