Joint Report of the Treasurer to the Joint Committee / Corporate
Director: Resources and the Corporate Director of Neighbourhood
The Joint Committee considered a Joint Report of the Corporate Director Neighbourhood Services and Corporate Director Resources which sought approval of the Small Bodies Return, with the report also including details of the financial outturn position against approved budgets for 2014/15 (for copy see file of minutes).
The Head of Finance – Financial Services referred Members to the financial outturn position for 2014/15, advising that the final outturn position was slightly improved in comparison with the provisional outturn position. Details of significant variances were contained within the report and duly noted. The report also included details of the improved position, why this had occurred and updated position in terms of reserves and balances held. It was added that the Major Capital Works reserve was maintained in line with agreed policy and Members were reminded of the use of reserves to accelerate the improvement works ongoing at the Crematorium.
With reference to the Small Bodies Return, it was highlighted that this was a statutory return and once agreed and signed by the Chairman, Treasurer and Clerk it would be submitted to the Joint Committee’s External Auditors accordingly. Members were also asked to note a simple balance sheet was included in the report, as discussed at the meeting held last September.
Councillor D Stoker noted the excellent performance of the Crematorium and asked whether the reserves were “ahead of the curve” in terms of providing the necessary funds to enable cremator replacement and whether it would be possible for the constituent Authorities to look to a possible increased in the distributed surplus.
The Head of Finance – Financial Services noted that the Joint Committee had previously agreed to maintain the current level of fees and charges and also had agreed to utilise the Major Capital Works reserve to accelerate the improvement works ongoing at the Crematorium. It was noted that the cost of replacing of cremators would be in the region of £1 million and therefore there needed to be sufficient reserves to cover this and the costs of any associated works. It was added that on this basis, there were currently no proposals to change to the distribution of surplus to the constituent Authorities.
(i) That the revenue outturn position as at 31 March 2015, including the year-end position with regards reserves and balances of the Joint Committee, together with the Balance Sheet as at 31 March 2015 be noted.
(ii) That the Small Bodies in England Annual Return for the financial year ended 31 March 2015 be approved.
(iii) That the Chairman, Treasurer and Clerk sign the Small Bodies in England Annual Return for the financial year ended 31 March 2015.