Agenda item

Report of Director of Finance and Support (Copy herewith)

1.      Cabinet noted the outturn position for the revenue General Fund.

2. Cabinet noted the net movement in Reserves of £3.1m, and the detailed movement in Earmarked Reserves shown in Appendix 4 of the report.

Councillor Bottwood, as the relevant Portfolio Holder introduced the report and noted that the outturn position was subject to audit. He reported that there were positive variances and the ongoing savings being made had been reflected in the 2011/12 budget.

The Chairman commented that the outturn position for the revenue General Fund was good news. He explained that it be noted that when reserves are spoken about, it doesn’t always equate to there being surplus amounts of cash. Whilst it may appear that there is funding available, it was necessary to remain frugal and aware of the current financial situation. He thanked the finance team for their work and paid tribute to the members of the team who had been involved.

RESOLVED:

1.      That the outturn position for the revenue General Fund be noted

2.      That the net movement in Reserves of £3.1m, and the detailed movement in Earmarked Reserves shown in Appendix 4 of the report be noted.