Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
It was RESOLVED:-
1.1 That the 2017/18 financial outturn as set out in report BCa/17/68 be noted.
1.2 That the following net transfers of £1,966k be approved with the General Fund reserves;
a) Transfer of £1,074k being the net amount, for the following specific earmarked reserves, referred to in section 10.11 of report BCa/17/68 be approved;
· £546k to Community Infrastructure Levy (CIL)
· £143k to Homelessness
· £123k to Planning for legal costs
· £119k to Waste for MRF costs
· £96k to other Government Grants
· £47k to Strategic Planning
b) The remaining balance of the General Fund surplus of £892k (£943k at Quarter 3) be transferred to the Business Rates Equalisation reserve to support the 2017/18 deficit on the Business Rates Collection Fund which will materialise in 2018/19.
1.3 That the General Fund carry-forward requests totalling £224k referred to in paragraph 10.12 of report BCa/17/68 be approved.
1.4 That the Capital carry-forward requests referred to in paragraph 10.20 of report BCa/17/68 totalling £16,912m be approved.
1.5 That the transfer of £577k, being the HRA deficit for the year (£51k better than planned) per paragraph 10.25, from reserves be approved.
1.6 That the HRA Capital carry-forward requests referred to in paragraph 10.32 of report BCa/17/68 totalling £656k be approved.
Reason for Decision: To ensure that Members are kept informed of the 2017/18 outturn position for both the General Fund and HRA, and approve the relevant transfers to/from reserves, revenue and capital carry forwards.
Alternative Options Considered and Rejected: The alternative option is that the outturn position is not reported and no reserve transfers or carry forwards are approved.
Any Declarations of Interest declared: None
Any Dispensation Granted: Yes
Publication date: 10/05/2018
Date of decision: 10/05/2018
Decided at meeting: 10/05/2018 - Babergh Cabinet
Effective from: 18/05/2018
Accompanying Documents: