Decision details

To provide Members with an indication of the likely outturn for the financial year ending 31st March 2015.

RESOLVED:

That the Cabinet:

 i.  Note, in respect of the 2014/15 provisional outturn the:

·  revenue net expenditure of £18.171m;

·  reasons for the £2.699m variance on the original service budgets (listed in Table 1 of the officer’s report).

·  capital expenditure of £2.999m

·  reasons for the £0.489m variance on the capital programme (listed in Table 5 of the officer’s report).

ii.  Approve, in respect of the revenue provisional outturn noted in (i) above the transfer to Earmarked reserves of:

·  £0.100m - Alconbury and Molesworth Support and Challenge reserve.

·  £0.261m - Carry forwards to the 2015/16 service revenue budget.

·  £0.443m – Transformation Challenge Award Funding for Shared Service reserve.

·  £0.500m - Chequers Court Development reserve.

·  £2.728m - Commercial Investment Strategy reserve.

3.  Approve, in respect of the capital and provision outturn noted in (i) above, the carry forward of committed expenditure on capital projects of £0.271m.

4.  Approve a delegation for the Head of Resources to adjust the revenue contributions noted in (ii) above, in consultation with the Executive Councillor for Resources and the Managing Director, if the actual outturn varies to that noted in (i) above by more than 2.5%.

To provide detailed analysis to Members of the outturn against the original budget that was approved in February 2014.

No options were considered.

As detailed throughout the officer’s report.