The purpose of this report is for Cabinet to consider and approve the final outturn position for 2010/11.

That:

(a)           The final outturn for 2010/11 is approved; and

(b)        The movements to new reserves outlined in paragraph 12 of Appendix A is approved.

1.)   Whilst work continues on the range of tasks necessary to prepare the council’s statutory Statement of Accounts for 2010/11, it is sufficiently advanced for Cabinet to consider the final outturn for the year.

2.)   On 17^th June 2011 the Statement of Accounts for 2010/11 was signed by the Council’s Chief Officer (Finance and Commercial Services) and was presented to the Audit and Governance Committee for formal approval on 28^th June 2011.  This represents the first stage of a revised accounts approval process introduced for this year.  Under the new arrangements the formal approval by the Audit and Governance Committee is not required until the Audit Commission has completed its full audit.

There are no alternative options.