Decision details
The County Council's Financial Position - 2018/19 Outturn
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: No
Purpose:
This report provides details for Cabinet on the county council's 2018/19 revenue and capital outturn position.
The 2018/19 revenue position at the end of the year is net expenditure of £745.375m, which represents an in year underspend of £19.265m which is 2.52% of the revenue budget.
The revenue position includes significant levels of support from reserves that have previously been agreed. In some cases this is specific expenditure taking place because reserve/grant funding has been provided, however some funding is structural and recurrently required to support the revenue budget. In 2018/19 the structural reserve funding totalled £44.767m, primarily covering the funding gap, and if this support had not been available then expenditure would have exceeded income by £25.502m.
The capital delivery programme for 2018/19 totalled £124.170m with the programme delivering an outturn position of £120.514m, a variance to budget of £3.656m.
Decision:
The Cabinet approved the recommendation(s) as set out in the report.
Divisions Affected: (All Divisions);
Contact: Kate Lee Email: kate.lee@lancashire.gov.uk Tel: 01772 531733.
Date of decision: 13/06/2019
Effective from: 19/06/2019