Decision details

Revenue and Capital Outturn 2018/19

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes


(Joint report of Chief Executive, Director of Finance and Transformation, the Leader and Cabinet Member for Finance, Innovation and Property)


In accordance with the Council’s Financial Procedure Rules, a report and accompanying information was presented showing actual Revenue and Capital Outturn for the year ended 31 March 2019 together with subsequent adjustments to the Accounts in the light of the outturn position. 


It was noted that the contribution to the General Revenue Reserve was £35,144 less than the revised estimate figure, the principal reasons for which were explained.  These included transfer of an additional £400,000 to the Tonbridge and Malling Leisure Trust Reserve and £250,000 to the Building Repairs Reserve, offset by a number of factors including better than budgeted performance under the Business Rates Retention Scheme; overall housing benefit payments; management savings on the salary bill; and performance in the major operational income streams. 


In the context of the outturn, reference was made to current progress with the Council’s Savings and Transformation Strategy, including the savings target of £100,000 for the year.


The report also contained an annual Treasury Management and Investment Strategy review for 2018/19 as required by the adopted CIPFA Code of Practice.


The Cabinet resolved that:

(1)             the Revenue and Capital Outturn for the year 2018/19 be noted and endorsed;


(2)             the action taken following a review of specific earmarked reserves, as set out at paragraph 1.2.3 of the report, be noted and endorsed; and


(3)        the Treasury Management and Investment Strategy Review 2018/19, as set out at Annex 3 to the report, be noted and endorsed.

Publication date: 07/06/2019

Date of decision: 05/06/2019

Decided at meeting: 05/06/2019 - Cabinet

Effective from: 15/06/2019

Accompanying Documents: