Agenda item

1.         That the 2013/14 net revenue budget underspend of £6.9m, as set out in Annex 1, paragraph 1 of the submitted report, be noted.

2.       That the final 2013/14 revenue carry forward requests of £5.5m through transfer to the Budget Equalisation Reserve, as set out in Annex 1, paragraphs 2 and 36 of the submitted report, be approved.

3.       That the residual revenue underspend of £1.4m be transferred to General Balances, as set out in Annex 1, paragraph 2 of the submitted report, be approved.

4.       That the capital budget outturn of £224.1m be noted and the final capital carry forwards of £32.6m, as set out in Annex 1, paragraphs 79 to 82 of the submitted report, be approved.

5.       That the reserves movements and year end general balances and reserves, as set out in Annex 1, Appendix, Table App5 of the submitted report, be noted.

6.         That the revised revenue 2014/15 budget incorporating the 2013/14 transfers and carry forwards, as set out in Annex 2, paragraph 1 of the submitted report, be noted.

7.         That the two 2014/15 revenue virements for SEN Reform Grant distribution and Children Service’s contact centre realignment, as set out in Annex 2, paragraph 2 and 4 be approved.

8.         That the unpaid £3.3m Genito-Urinary Medicine (GUM) funds be held as a debtor on the Council’s Balance Sheet and that the Leader of the Council to write to the Department of Health strongly urging settlement of this debt.

Reasons for Decisions

To review and manage the budget outturn for the 2013/14 financial year in the context of a multi-year approach to financial management. To approve final carry forwards to enable on-going projects to continue.

[The decisions on this item can be called in by the Council Overview and Scrutiny Committee]

The Leader of the Council presented the revenue and capital budget outturn for 2013/14 financial year. He said that the County Council’s strategy was centred on working for the long term interests of Surrey residents and that his focus was to provide Surrey taxpayers with maximum Value for Money.

In referring to each of the recommendations in term, he highlighted the carry forward requests, many of which would enable projects, some of which were affected by the floods, to be completed.

He also amended a typo in recommendation (3) - from Annex 1, paragraph 56 to Annex 1, paragraph 2 and proposed adding an additional recommendation (8) which was:

‘That the unpaid £3.3m Genito-Urinary Medicine (GUM) funds be held as a debtor on the Council’s Balance Sheet and that the Leader of the Council to write to the Department of Health strongly urging settlement of this debt.’

He said that the annexes presented the final revenue and capital outturn for the 2013/14 financial year, which were based upon the final accounts at the end of March 2014. The carry forwards for revenue and capital were indicatively approved last month, but there were some minor changes between the indicative figures and actual. This report requested the minor changes and revenue reserve transfers.

He highlighted the outturn impacts upon the 2014 - 19 revenue and capital budget, and two revenue virement requests for allocating and distributing government grants and realigning the children’s service contact centre. He considered that the creation of a multi-agency safeguarding hub was an excellent example of partnership working and an important way forward.

He also confirmed that the County Council had achieved £62.3m efficiency savings in the financial year 2013/14 and that the capital budget would be re-profiled in July.

Finally, he referred to the transparency information in Annex 3 and confirmed that the 2013/14 Annual Report would be presented to the Audit and Governance Committee on 31 July 2014.

Other Cabinet Members were invited to highlight the key points and issues from their portfolios, as set out in the Annex to the report.

RESOLVED:

1.         That the 2013/14 net revenue budget underspend of £6.9m, as set out in Annex 1, paragraph 1 of the submitted report, be noted.

2.       That the final 2013/14 revenue carry forward requests of £5.5m through transfer to the Budget Equalisation Reserve, as set out in Annex 1, paragraphs 2 and 36 of the submitted report, be approved.

3.       That the residual revenue underspend of £1.4m be transferred to General Balances, as set out in Annex 1, paragraph 2 of the submitted report, be approved.

4.       That the capital budget outturn of £224.1m be noted and the final capital carry forwards of £32.6m, as set out in Annex 1, paragraphs 79 to 82 of the submitted report, be approved.

5.       That the reserves movements and year end general balances and reserves, as set out in Annex 1, Appendix, Table App5 of the submitted report, be noted.

6.         That the revised revenue 2014/15 budget incorporating the 2013/14 transfers and carry forwards, as set out in Annex 2, paragraph 1 of the submitted report, be noted.

7.         That the two 2014/15 revenue virements for SEN Reform Grant distribution and Children Service’s contact centre realignment, as set out in Annex 2, paragraph 2 and 4 be approved.

8.         That the unpaid £3.3m Genito-Urinary Medicine (GUM) funds be held as a debtor on the Council’s Balance Sheet and that the Leader of the Council to write to the Department of Health strongly urging settlement of this debt.

Reasons for Decisions

To review and manage the budget outturn for the 2013/14 financial year in the context of a multi-year approach to financial management. To approve final carry forwards to enable on-going projects to continue.