To consider the attached report on the above.

The Council considered the submitted report on the final revenue outturn position for the Council for the financial year 2010/11 and the recommendations with respect to the use of the declared surplus.  The Overview and Scrutiny Board had reviewed the report on 29 June 2011 and made no recommendations.

It was proposed by Councillor Tyerman and seconded by Councillor Hill:

(i)         that the revenue outturn position for 2010/11 be noted;

(ii)        that the transfer of £0.500m to the Comprehensive Spending Review reserve be approved (paragraph A5.1 of the submitted report);

(iii)       that the transfer of £0.576m to the budget pressures reserve be approved (paragraph A5.1 of the submitted report);

(iv)       that the transfer of £0.275m of the revenue underspend to the General Fund Balance (paragraph A5.5 of the submitted report) be approved; and

(v)        a sum of £0.300m is earmarked to be transferred to the Change Management and Financial Strategy Reserve subject to the final audit of the Council’s Housing Benefit Subsidy be approved (paragraph A3.7 of the submitted report).

An amendment was proposed by Councillor Darling and seconded by Councillor Pentney:

(iii)       the transfer of £0.576m to the budget pressures reserve be approved (paragraph A5.1) and that Executive Heads be requested to advise all members the plans already identified and emerging for the use of the budget pressure reserve during the current financial year (2011/12) and for this to be provided within four weeks;

On being put the vote, the amendment was declared lost. 

The original motion was then before Members for consideration.

On being put to the vote, the original motion was declared carried.