Decision Maker: Babergh Cabinet
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
It was RESOLVED:-
1.1 That the 2018/19 financial outturn as set out in the report be noted.
1.2 That, the following net transfers of £2.281m be noted;
b) Of the remaining balance of the General Fund surplus £1.846m be transferred to the Business Rates Equalisation reserve and £293k to the Transformation Fund, as referred to in section 2.1 (c) of the report.
1.3 That the General Fund carry-forward requests totalling £75k referred to in paragraph 5.8 of the report be approved.
3.4 That the total Capital carry-forward requests referred to in paragraphs 5.16 of the report totalling £7.850m be approved.
Reason for Decision: To ensure that Members are kept informed of the outturn position for both General Fund Revenue and Capital and to approve the carry forward requests.
Alternative Options Considered and Rejected:
1.1 Transfer of surplus funds of £2.281m to the Transformation Fund.
1.2 Transfer of surplus funds of £2.281m to the Business Rates Equalisation Reserve.
1.3 Transfer surplus funds of £1.846m to the Business Rates Equalisation reserve as explained further in the table in section 5.4, surplus funds of £293k to the Transformation Fund and net transfers of £143k to specific earmarked reserves as detailed in 3.2(a) of the report.
1.4 To recommend carry forward requests for the General Fund (£75k) and Capital (£7.850m).
Any Declarations of Interest Declared: None
Any Dispensation Granted: None
Publication date: 13/06/2019
Date of decision: 13/06/2019
Decided at meeting: 13/06/2019 - Babergh Cabinet
Effective from: 21/06/2019