RESOLVED:

1.    That the revenue outturn for 2018/19 be noted.

2.    That the outturn position on Capital be considered and the slippage into 2019/20 and other adjustments detailed in Appendix 2C and Section 7 of the Cabinet report be approved.

The Director of Corporate Services presented the draft revenue outturn report for the 2018/19 financial year, drawing Members attention to the General Fund underspend of £7.7m, the work being carried out by officers on amending the forecasting to ensure a more accurate picture would be recorded for the next financial year and the proposals for reallocation of the underspend to ease some of the financial pressures on Children and Adults Services.  The Council was subject to the Council’s external audit and the results of that audit would be reported to the Standards and General Purposes Committee on 25 July.  Some monies were expected back from the Business Rates pilot, which would be put back into the Council’s reserves and it was anticipated that this would approximately £3.8m, however the final figure would be subject to the returns of all the boroughs in the pilot.  Any adjustments required would be made in the 2019/20 financial year.

The report showed a deficit in the Dedicated Schools Grant and this had been raised as an issue with Ministers urging them to looking at what can be done to address the shortfall in funding.  Officers were also working with colleagues across the South London region at ways in which to address this issue, which did not just affect Merton.   The Director drew the Cabinet’s attention to the section on Capital spend and the proposal to agree the slippage into future years spending.  It was hoped that going forward the Council would be given a clean bill of health with its annual accounts, although there may be some issues with outstanding benefits claims, and officers were waiting on advice from the Department of Work and Pensions.

RESOLVED:

1.    That the revenue outturn for 2018/19 be noted.

2.    That the outturn position on Capital be considered and the slippage into 2019/20 and other adjustments detailed in Appendix 2C and Section 7 of the Cabinet report be approved.