24 Revenue and Capital Outturn Report (00.55.43) PDF 328 KB
To consider a report from the Deputy Chief Executive (S151) presenting the Revenue and Capital Outturn report, previously considered by Cabinet on the 14th June 2018
Minutes:
The Group had before it and NOTED a * report from the Deputy Chief Executive (S151) presenting the revenue and capital outturn figures for the financial year 2017/18.
The Group Manager for Finance outlined the contents of the report and highlighted the Community Development report on page 52 which showed that there was an overall overspend of £132k partly attributed to the Market and that the vast majority of this was depreciation. She explained that the Council had spent money on the Pannier Market, Tiverton but it had not increased the valuation and the figures were reported as per normal accounting practices.
Consideration was given to the request that future reports did not state ‘Markets’ as the figures only related to Tiverton Pannier Market.
The Group Manager for Finance explained the 55% difference in external income. She explained there was a change in both expenditure and income so the figures cancelled each other out.
At this point of the meeting the Chairman proposed that further consideration and discussion take place in closed session and therefore it was RESOLVED that under Section 100A(4) of the Local Government Act 1972 the public be excluded from the next items of business on the grounds that it involves the likely disclosure of exempt information as defined in paragraph 1 respectively of Part 3 of Schedule 12A of the Act, namely information relating to the financial or business affairs of any particular person (including the authority holding that information).
(Proposed by the Chairman)
The Deputy Chief Executive (S151) and the Group Manager for Finance gave an overview of the remainder of the Outturn report and explained any variances.
Note: *Report previously circulated.