Decision details

To update Cabinet on the final position in respect of the 2016/17 financial year and to make any necessary decisions on resource allocation and reserves.cc

Cabinet Resolved:

a.    That the outturn position set out in Section 2 be approved.

b.    That the transfer of £22m to the Invest to Save Reserve be approved to make initial provision for the investment required in enabling IT to deliver the Transformation to 2019 Programme and Digital 2.

c.    That £1.23m of the corporate savings is allocated to enable the County Council to continue to pursue funding through the free schools initiative and minimise calls on our capital resources.

d.    That the transfer of the balance of net corporate savings of approaching £1.4m to the Grant Equalisation Reserve (GER) be approved.

e.    That the following reserves are closed and the balances transferred to the GER:

-           PSA Reward Grant Reserve (£83,000).

-           Minerals and Waste Development Reserve (£33,000).

-           Second Homes Reserve (£45,000).

f.     That the Corporate Efficiency Reserve be closed and that remaining commitments be met from the Invest to Save Reserve within which it should be subsumed.

g.    That funding of up to £250,000 per annum for two years from general contingencies to cash flow fund expenditure associated with the Enterprise Zone be approved, to be repaid from future business rate growth.

h.    That a one-off addition to revenue of up to £100,000 which will provide capacity to maximise the use of the newly introduced Apprenticeship Levy to be met from general contingencies be approved.

i.      That service capital programme cash limits for 2017/18 be increased to reflect the carry forward of capital programme schemes and shares of capital receipts, as set out in Appendix 4.

It be a Cabinet recommendation to Council that:

a)      A sum of £8.6m is approved from the Invest to Save Reserve to progress the Digital 2 Programme, a Corporate Wi-Fi Upgrade and other enabling IT infrastructure.

b)      An initial sum of £7.5m is approved from the Invest to Save Reserve to plan, scope, design and deliver other enabling IT projects to support the Transformation to 2019 Programme subject to business cases being approved by the Director of Corporate Resources.

c)      The report on the County Council’s treasury management activities and prudential indicators set out in Appendix 3 be approved.