The Portfolio Holder for Finance and Resources introduced a report setting out the provisional financial outturn figures for 2012/13.  The report also set out requests to carry forward unspent budgets into 2013/14 for Revenues and Asset Maintenance items.  2012/13 was the second year of a four-year savings plan, which set out to achieve savings of £4 million over that period.  The Portfolio Holder for Finance and Resources reported that at the end of the year there was a favourable outturn of £294,000.  A financial prospects report would be presented to a future Cabinet meeting.

The Finance Manager reported that the provisional outturn of £294,000 was better than the original forecast given to Members in February 2013.  A significant reason for the change from the earlier forecast was a re-negotiation of the cost-sharing arrangements for the Revenues and Benefits service resulting in Dartford increasing their contribution by £100,000.  In response to a question the Finance Manager confirmed that the deal negotiated with Dartford was for one year but Officers hoped that it would set a Precedent for future years.

The Finance Manager also reported that following the Finance and Resources Advisory Committee Officers had investigated the capital carry forward requests relating to vehicles and had confirmed with the Transport Manager that it was no longer needed as the capital budget approved for 2013/14 was sufficient for the proposed purchases.

In response to a question, the Finance Manager confirmed that the final accounts would have to be completed by 30June 2013.

Resolved: That the Revenue ‘carry forward’ requests totalling £35,066 as set out in paragraph 13 of the report be approved.