Agenda item

Financial Outturn report 2018/19

To consider the report of the Director (NE) (reference 19/138) attached

Minutes:

The Cabinet considered a report by the Director (NE) (Reference 19/138) in respect of the Council’s final outturn position for 2018/19 and other financial matters.  Introducing the report, the Portfolio Holder, Councillor Jefferson noted that in respect of paragraph 3.11 of the report and the procurement of the Council’s cash receipting system, the new product may derive from either the G-Cloud 10 or G-Cloud 11 framework depending on the timing of the contract award.  Members were then advised of the different elements of the report: the underspend on the revenue budget, slightly higher than forecast in the Quarter 3 report, the small underspend in the capital programme, the surplus in capital receipts to go into the capital development reserve, the robustness of the Council’s reserves, the receipt of a grant from the Ministry of Defence for National Armed Forces Day, and a proposed increase in charge made to insurance companies for providing copies of CCTV footage.  The Council’s accounts for 2018/19 had been published in May and were being externally audited with a completion audit report to go to the Audit Committee on 25 July.  He also referred to the ongoing objection to the Council’s accounts in respect of the treatment of Whitby Harbour income which was in the hands of the external auditors.

RESOLVED that the Cabinet:

(i)    Note the report, and in particular:

·       the £279k underspend on the revenue budget for 2018/19 after committing to following budgets during the year:

·       £150k for 2019 Tour de Yorkshire cycle event

·       £84k for the implementation of a trial residents car parking scheme for a period of 12 months;

·       that the £200k budgeted draw from the General Fund was not made during the year

·       the outturn position for capital schemes completed in the period and capital receipts for the 2018/19 year; and

 

(ii)             Note that Cabinet have previously agreed that any surplus achieved at year end  will be transferred to reserves and set aside for the capital strategy / one off priorities;

 

(iii)            Accept the following grants and contributions:

 

·     £10k from Ministry of Defence (MoD) towards the costs of the 2019 Armed Forces Day Event;

 

(iv)           Approve an increase in the charge made to insurance companies for providing copies of CCTV footage to £100 per request.

 

(v)            Note the Council’s partial exemption VAT percentage for 2018/19 was 1.17%, significantly below the 5% limit.

 

(vi)           Note that the updated Prudential Indicators for Capital Expenditure are included within report (19/151), which will be considered by Full Council on 12 July 2019.

 

(vii)          Approve entering in to contract for a corporate cash receipting product for the Council following procurement through the G-Cloud 10 framework or G-Cloud 11 framework.  The contract will be for a period of two years with the potential for extensions of up to a further two years and the cost of this product will be no higher than the current available budget.

 

Reasons

1.     To update Members on the final outturn position for 2018/19 and approve the acceptance of grants and use of funds in line with the requirements of the Council’s constitution.

 

2.     The enable the Council to continue to take payments by card, to achieve PCIDSS compliancy across all payment channels and to improve the customer experience when making payments.

 

 

Supporting documents: