Issue - meetings

This report provides a year end analysis of the authority’s financial performance and includes the York Monitor annual report which sets out how the Council has used its resources to deliver outcomes for residents, setting out its achievements and areas of challenge.

Resolved:        That Cabinet agree to:

(i)           Note the year end under spend of £314k and that this is transferred to the General Contingency.

(ii)          Note the performance set out in the York Monitor at Annex 1, including the areas highlighted as presenting challenges, and the priorities for the year ahead.

Reason:              To ensure significant financial issues can be appropriately dealt with.

Consideration was given to a report which provided a year end analysis of the Council’s financial performance over the 2013/14 financial year, detailed at Annex 1 in the York Monitor.

The Council’s net General Fund budget for 2013/14 was reported as £127,778k with a provisional outturn of an under spend of £314k, an improvement of £2.2m since Monitor 3.

Further information in relation to the financial outturn of each directorate was reported together with details of an under spend of £900k  in Treasury Management activity. It was noted that the Council would retain a sum equivalent to the income received from fines, in respect of Lendal Bridge and Coppergate in an earmarked reserve, for any future liability that may accrue. It was also noted that an additional £200k contribution was being made to the General Fund reserve to take account of the increased risks facing the Council.

The Cabinet Member confirmed that, despite the considerable financial challenges, the authority’s expenditure had been within the overall approved budget. He drew attention to the focus now being placed on the areas which were experiencing budget pressures.

Resolved:        That Cabinet agree to:

(i)           Note the year end under spend of £314k and that this is transferred to the General Contingency.

(ii)          Note the performance set out in the York Monitor at Annex 1, including the areas highlighted as presenting challenges, and the priorities for the year ahead.

Reason:              To ensure significant financial issues can be appropriately dealt with.