Agenda item

(B) Revenue and Capital Budgets 2015/16 and 2016/17 – to receive the latest revenue budgets for 2015/16 and approve the revenue budgets for 2016/17 and the capital budgets.

16 February 2016

(B) Revenue and Capital Budgets 2015/16 and 2016/17

The Court was presented with a report which summarised the revenue and capital budgets  for each of the City’s three main funds,  City Fund, City’s Cash and Bridge House Estates together with the budgets for central support services within Guildhall Administration (which initially ‘holds’ such costs before these are wholly apportioned).  The report accompanied the Summary Budget Book which includes all the City’s budgets at a summary level in a single document and was available in the Members’ Reading Room and on the City Corporation’s website.

The Court was recommended to approve the revenue  and  capital  budgets  for  City’s  Cash,  Bridge  House  Estates  and Guildhall Administration for the financial year 2016/17 (the budgets for City Fund having already been considered under part A above).

Resolved - That:-

·         the latest revenue budgets for 2015/16 be noted;

·         the 2016/17 revenue budgets be approved;

·         the capital budgets be approved; and 

·         authority be delegated to the Chamberlain to determine the financing of the capital budgets.

Further resolved - That the thanks of the Court be given to the Chairman of the Finance Committee for his introduction to the budget reports before the Court this day and that a copy be circulated to every Member in the usual way.