Decision details

To consider:

·         The financial impact and on-going consequences of 2012/13 outturn for revenue and capital budget

·         The treatment of individual budget variances and requests to write off debts

 (1)       That the revenue budget underspending, as set out in Annex 1, Section A paragraph 4 of the submitted report, be noted.

(2)        That the transfer of £2.5m in respect of the write down of prior accruals to the Budget Equalisation Reserve, as set out in Annex 1, Section A paragraph 4 and  68 of the submitted report, be approved.

(3)        That the transfer of £2.7m of higher than expected government grants to the Budget Equalisation Reserve, as set out in Annex 1, Section A, paragraph 7 of the submitted report, be approved.

(4)        That the in-year capital budget outturn, as set out in Annex 1, Section B of the submitted report, be noted.

(5)        That grant and reserves movements changes be noted and that it be approved they are allocated to the relevant services, as set out in Annex 1, Section C of the submitted report.

(6)        That the transfer of capital funding into future years, as set out in Annex 1, Section E of the submitted report, be approved.

Reason for Decisions

To review and manage the budget outturn for the 2012/13 financial year in the context of a multi-year approach to financial management.

To approve carry forwards to enable on-going projects to continue without delay.