Agenda item

The Chief Executive commended the report to Members as showing the Authority’s diligence and prudence in managing its finances. This gave confidence for the future and grounds for a period of stability to 2020, following the government’s previous cuts to the Authority’s funding.

The Chief Finance Officer noted that the Authority was in receipt of only 65% of its 2010 settlement and acknowledged that the investment opportunities it now had were partly a result of Members agreeing to reductions in spending.

Members thanked officers for a clearly written report and asked that in the next annual report, the previous year’s Appendix 1 should be included for ease of comparison.

In response to Members’ query about the cost of the Corporate and Democratic Core (Appx 1), the Chief Executive confirmed that it is subject to frequent audits and does provide value for money in delivering essential services for the Authority.

The Chief Executive also confirmed that a report on the development of the visitor centres would be submitted to the Audit, Resources and Performance Committee later in 2017.

The recommendations were moved, seconded, put to the vote and carried.

RESOLVED:

1.    That the base budget for the 2017/18 financial year shown in Appendices 1 and 2 be approved, which incorporate the investment allocations shown in paragraph 9 of the report.

2.    That the additional baseline allocation of £15,000 per annum and the one-off allocation of £180,000 in paragraph 10 of the report be added to the existing delegations (Authority Minute 20/16) to the Leadership Team, working with the Chief Finance Officer.

3.    That the financial position of the Authority in the period up to March 2020 be noted as explained in paragraph 11 of the report.