This report presents the financial outturn for the year ending 31^st March 2012.  It recommends the Board to:-

v     Note the financial outturn for 2011-12 of £25.3 million which is £0.5 million favourable to the approved budget for 2011/12;

v     Approve the transfer of the £0.5m surplus to Earmarked Reserve for funding Capital;

v     Approve transfers to the General Fund and HRA Working Balances of £0.8 million and £0.6 million respectively;

v     Approve the carry forward requests as detailed in Appendix B to the report.

The Head of Finance submitted a report (previously circulated, now appended).  The Chair of the Value and Performance Scrutiny Committee submitted a report (previously circulated, now appended) containing scrutiny comments on the periodic report.

Resolved to:-

(1) Note the financial outturn for 2011-12 of £25.3 million which was £0.5 million favourable compared to the approved budget for 2011/12;

(2) Approve the transfer of the £0.5m surplus to Earmarked Reserve for funding Capital subject to further discussion in the Autumn in the context of the review of the Medium Term Financial Strategy;

(3) Approve transfers to the General Fund and HRA Working Balances of £0.8 million and £0.6 million respectively;

(4) Approve the carry forward requests as detailed in Appendix B to the report;

(5)   Note partnership payments to staff as detailed in paragraphs 37-40 of the report;

(6) To note advise given by the Executive Director, Organisational Development and Corporate Services on recruitment (paragraph 7 of the Scrutiny report refers) and to ask Executive Directors to consider the effects of delays in recruitment on services and plans in terms of planning work programme delivery.