1.                  To consider and approve:

·          the final outturn position for 2005/06;

·         Corporate Management Board’s proposals for carry forward of unspent budget into 2006/07;

·         the creation of new reserves and provisions in the 2005/06 Accounts; and

·         a revision to the Council’s policy on the minimum level of general reserves and working balances.

That             (a)            the final outturn for 2005/06 be approved;

(b)CMB’s recommendations for carry forward of unspent budget into 2006/7 be agreed;

(c)                the creation of the new reserves in the 2005/6 Accounts be approved; and

(d)               an increase in the minimum level of general reserves be considered as part of the Council’s Medium Term Financial Plan.

1.                  Whilst work continues on the range of tasks necessary to prepare the Council’s statutory Statement of Accounts for 2005/06, it is sufficiently advanced for Cabinet to consider the final outturn for the revenue account.

2.                  The full Statement of Accounts for 2005/06 will be presented to the Audit Committee for formal approval on 30th June 2006.  Approval on this date will meet the statutory deadline for the approval of the accounts.

3.                  The Audit Committee will receive a report giving additional information in respect of the 2005/06 Statement of Accounts. It will also receive routine supplementary reports on early retirements, redundancies and changes in the Council’s bank account arrangements during the year.

Not applicable.