Agenda item

Joint Report of the Treasurer to the Joint Committee / Corporate Director: Resources and the Corporate Director of Neighbourhood Services.

The Joint Committee considered a report of the Corporate Director Neighbourhood Services and Corporate Director Resources / Treasurer to the Joint Committee which set out for Members’ consideration proposals with regards to the 2016/17 Revenue and Capital Budgets for the Central Durham Crematorium (for copy see file of minutes).

The Principal Accountant advised that the changes in comparison to the 2015/16 budget were set out within the report and noted that the updated positions in relation to the SLA and Fee and Charges as agreed at the previous items were incorporated.  Members were reminded of the canopy works that had been carried forward into the 2016/17 budget and it was explained that the income projection was prudent and that reserves would be allowed to build back up to levels in readiness for the next cycle of cremator replacement.

The Joint Committee were reminded that the distribution of surplus to the constituent Authorities remained the same in 2016/17 and that there had been a movement of funds into the general reserve to maintain a level of 30% of the gross income budget in line with the reserves policy agreed by the Joint Committee.

The Principal Accountant concluded by noting that the projected level of reserves as at 31 March 2017 was £999,656, giving a strong financial position for the Joint Committee going forward.

Resolved:

(i)   That the Joint Committee note and approve the revenue and capital    budget proposals contained within the report.

(ii)  That the forecast level of reserves and balances at 31 March 2017 be       noted.