Cabinet Member for Finance and Performance

Cabinet considered the report of the Chief Financial Officer and the above Cabinet Member which set out the revenue and capital outturn position for 2016/17.  The Cabinet Member for Finance and Performance introduced the report, advising that it had been considered by the Scrutiny Committee.  Whilst the Committee did not make any recommendations, a number of technical questions had been raised (which had been responded to), and the report would be updated in the future to more clearly reference the figures in the recommendations to the supporting papers.

A Member asked a question as to when funds would be released for the Faversham Creek Basin Regeneration Project, now that the referendum had taken place and the Neighbourhood Plan approved. It was clarified that the Neighbourhood Plan had been formally accepted; funds would be released when requested by Kent County Council (KCC), who were currently going through the tender process for the project.

Resolved:

(1) That the gross revenue underspend on services of £1,419,100 (including £1,272,000 additional income) be noted.

(2) That the revenue service rollovers of £494,290 (including £241,390 due to roll forward of external funding, grants and use of additional income from 2016/17) and the setting up of new reserves as set out in Table 3 Appendix I be approved.

(3) That the revenue service bids of £248,100, as set out in Table 4 Appendix I, be approved.

(4) That the Chief Financial Officer be given delegated authority to allocate uncommitted underspends to reserve funds.

(5) That the capital rollovers of £1,875,853, as detailed in Table 9 Appendix 1, be approved.