The report sets out the provisional outturn financial position for 2016/17 as at the end of March 2017 (subject to audit).

1.         That the provisional revenue outturn position for 2016/17, which is an underspend against budget of £0.052M, be noted.

2.         To note that the provisional outturn position and new proposed earmarked reserves were approved by the Leader, Deputy Leader, Chief Executive and Director of Resources under a delegated approval granted by the Executive on 4 April 2017.

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

4.         That the proposed new earmarked reserves, as listed in Table 2 in the report, be noted.

The Executive considered a report from the Deputy Leader and Executive Member for Corporate Resources that set out the provisional outturn financial position for 2016/17 as at the end of March 2017.

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

RESOLVED

1.         that the provisional revenue outturn position for 2016/17, which was an underspend against budget of £0.052M, be noted;

2.         to note that the provisional outturn position and new proposed earmarked reserves were approved by the Leader, Deputy Leader, Chief Executive and Director of Resources under a delegated approval granted by the Executive on 4 April 2017;

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

4.         that the proposed new earmarked reserves, as listed in Table 2 in the report, be noted.