The Leader’s Portfolio

To consider report FIN/443 of the Head of Finance, Revenues and Benefits.

The Leader of the Council presented report FIN/443of the Head of Finance, Revenues & Benefits which sets out a summary of the Council’s outturn for the year for both revenue and capital spending for the financial year 2017/2018. It identifies the main variations from the approved spending levels and any potential impact on future budgets. It was noted that at Quarter 3 there was a projected transfer to reserves of £796,000, the actual transfer to reserves was £923,482, which would be used to fund future investments in the capital programme.

Whilst at Quarter 3 there was a projected surplus on the Housing Revenue Account of £266,000, the actual additional transfer for investment in the maintenance and building of future housing was £810,000. On capital spending, £29.454m was spent during the year, including £13.3m on new housing development.

RESOLVED

1)            That the Cabinet notes

a)    the outturn for the year 2017/2018 as detailed in report FIN/443

b)    that the Memorial Gardens play improvement scheme will be funded from S106 schemes as outlined in paragraph 8.10 of report FIN/443

c)    that the Capital Programme may be varied by the proposed changes to the Crawley Growth Programme, as considered elsewhere on this agenda.

2)            That Full Council be recommended to

Approve a supplementary capital estimate of £250,000 to the College car park site for additional units and for a sprinkler system as outlined in paragraph 8.7 of t report FIN/443. 30% of this to be funded from 1-4-1 receipts.

Reasons for the Recommendations

To report to Councillors on the outturn for the year compared to the approved budget for 2017/2018.