Decision details

1.         To note the full year outturn position for the 2017/18 revenue budget and capital investment programme.

2.         To note the use of the £2.2m Southport Road capital receipt, as outlined in paragraph 34, to pay off the borrowing used to fund assets with short useful lives and instead use prudential borrowing to fund the purchase of the Oak House. The outcome being a £176k saving to the council’s revenue budget.

3.         To approve slippage requests outlined in Appendix 2 of the report to finance expenditure on specific items or projects in 2018/19.

4.         Request Council approval for the contribution of £300,000 from in-year revenue underspends to the Change Management Reserve to finance one-off redundancy and pension strain costs arising from transformation and shared service strategies.

5.         Request Council approval for the contribution of £100,000 from in-year revenue underspends to the Asset Maintenance Reserve to finance one-off costs relating to the Council’s maintenance of offices and buildings.

6.         Request Council approval for the contribution of £156,835 from in-year revenue underspends to the Business Rates Retention Equalisation Reserve.

7.         To note the 2017/18 outturn position on the Council's reserves outlined in Appendix 4.

8.         To note the impact of the final capital expenditure outturn and the re-phasing of capital budgets to 2018/19 and approve the additions to the capital programme outlined in paragraph 72.

9.         Request Council approval of the financing of the 2017/18 capital programme to maximise the use of funding resources available to the Council.