The Executive is asked:
• To note the provisional consolidated outturn surplus of £3.044 million for 2016/17 and the provisional outturn position for each of the three funding streams;
• To approve the carry forward of £29,000 into 2017/18 in respect of planned NOTIFY system developments;
• To approve the carry forward of the underspend of £15,000 in respect of the YPES be held in reserves for the specific future funding of this service, in accordance with usual practice;
• To note the carry forward of £227,000 into 2017/18 in respect of TEC system developments, subject to final approval by the TEC Executive on 20 July;
• To note the provisional level of reserves of £13.056 million as at 31 March 2017 (paragraphs 62-63), which reduces to £5.59 million once known commitments of £7.466 million are taken into account (paragraphs 64-65);
• To note the updated financial position of the London Councils as detailed in paragraphs 66-67 of this report; and
• To agree to receive a further report in November 2017 after the completion of the external audit by KPMG LLP to adopt the final accounts for 2016/17. The final accounts will be signed off at the meeting of the Audit Committee on 21 September 2017, at which KPMG will formally present the Annual Audit Report for approval.