Issue - meetings

Finance and Economic Development – (C-030-2020-21) Report to provide Cabinet with an overview of the Revenue and Capital outturn, compared to budget, for 2019/20.

(1)       The Cabinet noted the Revenue outturn for 2019/20 for the General Fund and Housing Revenue Account (HRA) as presented within the report;

(2)       The Cabinet noted the General Fund Reserve position as presented in Section 4 of the report;

(3)       The Cabinet noted the HRA Balance set out in Section 4, including the retention of £0.5 million originally approved for transfer to the Self-Financing Financing Reserve (prior to consideration for approval by Cabinet); and

(4)       The Cabinet noted the Capital Programme outturn for 2019/20 as presented within the report.

The Finance and Economic Development Portfolio Holder, Councillor Philip, introduced the revenue outturn for 2019/20.

This report provided Cabinet with an overview of the Revenue and Capital outturn, compared to budget, for 2019/20.

The figures included within the report were still subject to external audit so should be considered provisional at this stage. The report also briefly considers the Council’s unallocated reserve balances for both General Fund and the HRA.

DECISION:

(1)       The Cabinet noted the Revenue outturn for 2019/20 for the General Fund and Housing Revenue Account (HRA) as presented within the report;

(2)       The Cabinet noted the General Fund Reserve position as presented in Section 4 of the report;

(3)       The Cabinet noted the HRA Balance set out in Section 4, including the retention of £0.5 million originally approved for transfer to the Self-Financing Financing Reserve (prior to consideration for approval by Cabinet); and

(4)       The Cabinet noted the Capital Programme outturn for 2019/20 as presented within the report.

Reasons for Proposed Decision:

To provide an update on the year-end financial position for 2019/20, thus supporting Cabinet in making better informed decisions on the allocation of the Council’s financial resources based on up-to-date financial information.

Other Options for Action:

None, as this was a review of the previous year.