Agenda item
Review of Financial Performance 2017/18
Minutes:
A report by the Executive Director for Finance and Public Protection had been circulated.
It was proposed, seconded and agreed that the Council Procedure Rules be temporarily suspended to allow for one debate to take place.
It was moved and seconded that
That the County Council:
1. Note the carry forwards set out in paragraph 1.2 and 1.3 of the report which were made in line with the Council's Financial Regulations;
2. Approve the proposed use of carry forwards of over and under spending in excess of 1.0% as set out in paragraph 1.4 of the report;
3. Note the transfers to and from reserves summarised in Table A of the report and position of earmarked reserves as at 31 March 2018, also shown in Table A of the report;
4. Note the position in relation to general reserves set out in paragraph 1.7 and Table B of the report;
5. Note the Flexible Use of Capital Receipts in 2017/18 as set out in paragraph 1.8 to 1.10 and summarised in Table C; and
6. Note performance against the Prudential Indicators for 2017/18 as set out in paragraph 1.11 to 1.12 and Table D of the report.
An amendment by the Labour Group was moved and seconded as follows:
To amend the amount recommended to be transferred to the Financial Volatility Fund by £2.718m to be allocated to expenditure in 2018/19 on:
Establish a social mobility task force |
£0.425m |
Expand the Small Schools Project |
£0.700m |
Expand research based interventions at primary schools in target areas |
£0.375m |
Trial research based interventions KS4 in target areas |
£0.250m |
Transition Post 16 - Introduce wraparound support for NEETS through bespoke support to develop essential skills for life and work |
£0.408m |
Introduce a social mobility drive through Children's Centres |
£0.275m |
Reinstate cuts in Citizen Advice Services funding to February 2017 levels plus inflation |
£0.210m |
Commitment to Park and Ride in Lincoln for preliminary work in 2018/19 financial year |
£0.075m |
Total |
£2.718m |
If £2.718m is agreed by Council to fund the Labour Group proposals this would leave £15.947m of carry forward to be added to the Financial Volatility Reserve.
The Financial Volatility Reserve would then have a balance of £48.287m rather than the £51.005m the Council paper proposes.
Upon being put to the vote, the amendment was lost.
A vote was taken on the original motion, and upon being put to the vote, the motion was carried and it was
RESOLVED
That the County Council:
1. Note the carry forwards set out in paragraph 1.2 and 1.3 of the report which were made in line with the Council's Financial Regulations;
2. Approve the proposed use of carry forwards of over and under spending in excess of 1.0% as set out in paragraph 1.4 of the report;
3. Note the transfers to and from reserves summarised in Table A of the report and position of earmarked reserves as at 31 March 2018, also shown in Table A of the report;
4. Note the position in relation to general reserves set out in paragraph 1.7 and Table B of the report;
5. Note the Flexible Use of Capital Receipts in 2017/18 as set out in paragraph 1.8 to 1.10 and summarised in Table C; and
6. Note performance against the Prudential Indicators for 2017/18 as set out in paragraph 1.11 to 1.12 and Table D of the report.
Supporting documents: