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Agenda item

Revenue Outturn and Joint Committees Annual Return for the Financial Year Ended 31 March 2019

Joint Report of the Corporate Director of Regeneration and Local Services and the Corporate Director of Resources / Treasurer to the Joint Committee.

Minutes:

The Joint Committee considered a Joint Report of the Corporate Director of Resources and Treasurer to the Joint Committee and the Corporate Director of Regeneration and Local Services which sought approval of the Joint Committees Return, with the report also including details of the financial outturn position against approved budgets for 2018/19 (for copy see file of minutes).

 

The Head of Finance and Transactional Services referred Members to the financial outturn position for 2018/19, advising that the final outturn position was broadly in line with the provisional outturn position, with only minor changes across a number of budget levels at the final outturn.  Details of significant variances were contained within the report and duly noted.  Members were reminded that in terms of capital works, some works had carried over into the next financial year, as set out at paragraph 16 of the report.  The report also included details of the updated position in terms of reserves and balances held and it was added that the Major Capital Works reserve was maintained in line with agreed policy. 

 

The Head of Finance and Transactional Services noted that he would prepare a Strategy Paper for the Committee meeting in September, looking at options for the future in terms of reserves, medium term financial plan, capital investment and surplus distributions to the two Authorities.

 

Councillor B Kellett asked as regards the transfer to the Major Capital Works reserves, noting the £297,532 was a considerable amount.  The Head of Finance and Transactional Services explained that as there had been an overachievement of surplus and, as previously agreed, this was added to the Major Capital Works reserves.  He added that the budget had been a prudent estimate and there had been a larger surplus.

 

 

 

 

 

 

Resolved:

 

(i)      That the revenue outturn position as at 31 March 2019, including the year-end position with regards reserves and balances of the Joint Committee be noted.

(ii)      That Section 1 - Annual Governance Statement 2018/19 of the Joint Committees Annual Governance and Accountability Return for the financial year ended 31 March 2019 be approved.

(iii)     That Section 2 - Accounting Statements 2018/19 of the Joint Committees Annual Governance and Accountability Return for the financial year ended 31 March 2019 be approved.

(iv)     That the Chair, Clerk and Treasurer sign the Joint Committees Annual Governance and Accountability Return for the financial year ended 31 March 2019.

 

Supporting documents:

 

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Durham County Council
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Durham
County Durham
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