Issue - meetings

1.   That the movements on earmarked reserves as set out in section 10 be approved.

2.     That the capital slippage into financial year 2019/20 as set out in Appendix C be reviewed and approved.

Decision

1)    That the movements on earmarked reserves as set out in section 10 be approved.

2)    That the capital slippage into financial year 2019/20 as set out in Appendix C be reviewed and approved.

Corporate objectives

Delivering an efficient and modern council

Monitoring Officer 

No further comments to add.

Deputy S.151 Officer

This is a Deputy S.151 Officer report.

Advice

Councillor Elliot introduced the report confirming that the financial outturn report which has been presented is a provisional outturn position for 2018/19.  It is provisional as the final outturn report is yet to be finalised and scrutinised by Audit.  The final outturn with Audit opinion will be reviewed and approved by the Audit Committee on 18^th July. 

Councillor Elliot confirmed that this report asks Cabinet to review the provisional outturn position and approve the Capital slippage and movements on earmarked reserves are set out in appendix C and section 10 of the report. 

Councillor Elliot summarised the report stating that the financial outturn details on the Revenue finances delivered a balanced outturn position against the approved budget for the General Fund and that the HRA has delivered an operating underspend of £255,000. 

Councillor Elliot said that in regards to the Capital budget, the General Fund Capital programme has slipped £4m in the final Q4 initial dates to due to differences in three major Capital projects such as housing grant payments to housing associations for delivery of affordable homes by £2.1m, Berkhamsted multi-story car park £1.2m and Tring swimming pool completion of £300,000.  Tring swimming pool has now completed. 

Cllr Elliot advised that the HRA Capital programme has slipped by £1.5m this was due to slight delays in the Stationers Place project because of access problems with HCC, in the amount of £500,000, a reduction in commission of Capital works of £900,000 as a result of a £465,000 gain/share payment from Osbornes and a well targeted replacement programme reducing the need for additional works.

Cabinet agreed the recommendations in the report.