Issue - meetings

The Leader’s Portfolio

To consider report FIN/472 of the Head of Corporate Finance.

The Leader of the Council presented report FIN/472of the Head of Corporate Finance, which sets out a summary of the Council’s outturn for the year for both revenue and capital spending for the financial year 2018/19. 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 £405,000, the actual transfer to reserves was £425,181, which would be transferred to the General Fund reserve.

Whilst at Quarter 3 there was a projected surplus on the Housing Revenue Account of £397,000, the actual additional transfer for investment in the maintenance and building of future housing was £401,000. On capital spending, £45.2114m was spent during the year, including £26.085m on new housing development. The revised budget was £48.663m

RESOLVED

That Cabinet

1.         notes the outturn for the year 2018/19 as summarised in this report FIN/472.

2.         notes the allocation of S106 to specific schemes within the Crawley Growth Programme as outlined in paragraph 8.12 of report FIN/472.

3.         notes the Crawley Growth Programme report PES/316, previously considered by Cabinet at this meeting, and its impact upon the capital programme.

4.         Agree a supplementary capital estimate of £40,000 which will be funded from S106 contributions for the Memorial Gardens as outlined in paragraph 8.14 of report FIN/472.

Reasons for the Recommendations

To report to Members on the outturn for the year compared to the approved budget for 2018/19.