Issue - meetings

Report of Councillor P Parkin, Portfolio Holder for Finance.

Key Decision

RESOLVED –

(1)       That Cabinet noted the outturn position in respect of the 2019/20 financial year;

(2)       That the proposed carry forward of revenue budgets as detailed in 2.1 of the report, totalling £0.038m be approved;

(3)       That the proposed carry forward of capital budgets as detailed in Appendix 4 to the report, totalling £1.939m be approved.

REASON FOR DECISION – To inform Cabinet of the financial outturn for 2019/20, to carry-forward specific budgets and to enable a base budget review of the General Fund and Housing Revenue Account to now take place.

OTHER OPTIONS CONSIDERED AND REJECTED – The financial outturn report for 2019/20 was primarily a factual report detailing the position compared to previously approved budgets.  Consequently, there were no alternative options that needed to be considered.

This is a Key Decision.  The call-in period for the decision will run until Tuesday 1 September 2020.

Cabinet considered a report of Councillor P Parkin, Portfolio Holder for Finance, which informed Members of the outturn position of the Council for the 2019/20 financial year. 

The report stated that the Council had managed its budget effectively during the previous financial year and had secured a favourable financial outturn position.  The Council had met its financial savings target of £0.770m and a further contribution of £1.104m had been made to the Resilience Reserve.

The report explained that for the General Fund there were three budgets that had been identified for which there was a requirement to roll over into 2020/21.  The total amount to be rolled over for the revenue budget was £0.038m.

The report stated that there were amounts in the Capital Programme that would be carried forward to 2020/21, which were set out in Appendix 4 to the report.  These related to individual schemes what were still in progress, where there were outstanding commitments or where the scheme had been delayed.  The total amounted to £1.939m, and any impact on the 2020/21 capital programme was also set out in the Appendix.

Members commended the efforts of the staff in the finance team which resulted in the Council publishing its draft Statement of Accounts in respect of 2019/20 on 17 June 2020, ahead of the statutory deadline.

RESOLVED –

(1)       That Cabinet noted the outturn position in respect of the 2019/20 financial year;

(2)       That the proposed carry forward of revenue budgets as detailed in 2.1 of the report, totalling £0.038m be approved;

(3)       That the proposed carry forward of capital budgets as detailed in Appendix 4 to the report, totalling £1.939m be approved.

(Head of Finance and Resources)

REASON FOR DECISION – To inform Cabinet of the financial outturn for 2019/20, to carry-forward specific budgets and to enable a base budget review of the General Fund and Housing Revenue Account to now take place.

OTHER OPTIONS CONSIDERED AND REJECTED – The financial outturn report for 2019/20 was primarily a factual report detailing the position compared to previously approved budgets.  Consequently, there were no alternative options that needed to be considered.