The purpose of this report is for Cabinet to consider and approve:

a.             The final outturn position for 2007/08.

b.             Joint Management Team’s proposals for carry forward of unspent budget into 2007/08.

c.             The creation of new reserves and provisions in the 2007/08 accounts.

That Cabinet approve:

(a)        the final outturn for 2007/08;

(b)       the Joint Management Team’s recommendations for carry forward of unspent budget into 2008/09; and

(c)                the movements to new reserves outlined in the report.

1        Whilst work continues on the range of tasks necessary to prepare the Council’s statutory Statement of Accounts for 2007/08, it is sufficiently advanced for Cabinet to consider the final outturn for the revenue account.

2        On 20 June 2008 the full Statement of Accounts for 2007/08 will be presented to the Audit and Corporate Governance Committee for formal approval.  This will ensure the Council meets the statutory deadline for the approval of the accounts.

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