To consider the 2015/16 revenue financial outturn report.

1.      That the provisional revenue outturn position for 2015/16, which is an underspend against budget of £51k, be noted.

2.      To note that the budget included £2.1M of contingency costs, which were not used.

3.      That the creation of new Earmarked Reserves, as listed in Table 2 in the report, be approved.

The Executive considered a report from the Executive Member for Corporate Resources that set out the provisional outturn financial position for 2015/16 (subject to Audit).  The provisional outturn position was underspend compared to budget of £51,000.

In response to questions, the Director of Children’s Services confirmed that the use of agency staff was being reduced and this was monitored on a monthly basis.  She agreed to meet with the relevant Member to provide a briefing on Special Guardianship Orders.  The Director of Social Care, Health and Housing agreed to provide the relevant Member with an explanation of the overspend within residential homes for older people in relation to the harmonisation of salaries and a continuing use of agency staff to cover staff vacancies.

Reason for decision:  To facilitate effective financial management and planning.

RESOLVED

1.      that the provisional revenue outturn position for 2015/16, which was an underspend against budget of £51k, be noted;

2.      to note that the budget included £2.1M of contingency costs, which were not used; and

3.      that the creation of new Earmarked Reserves, as listed in Table 2 in the report, be approved.