Issue - meetings

Finance, Qualis Client & Economic Development – (C-018-2021-22) – review of quarter 4 for 2020/21.

1.         The Cabinet noted the General Fund revenue position at the end of Quarter 4 (Final Outturn) for 2020/21;

2.         The Cabinet noted the General Fund capital position at the end of Quarter 4 (Final Outturn) for 2020/21;

3.         The Cabinet noted the Housing Revenue Account revenue position at the end of Quarter 4 (Final Outturn); and

4.         The Cabinet noted the Housing Revenue Account capital position at the end of Quarter 4 (Final Outturn) for 2020/21.

The Finance, Qualis Client and Economic Development Portfolio Holder, Councillor Philip introduced the report. He noted that this report set out the 2020/21 General Fund and Housing Revenue Account positions, for both revenue and capital, as at 31st March 2021, which represents the Quarter 4 (Final Outturn) for the full 2020/21 financial year. This report had also gone through the Stronger Council Select Committee.

In terms of General Fund revenue expenditure – at the Quarter 4 (Final Outturn) stage – a budget over spend of £0.157 million had been recorded, with net expenditure of £18.591 million against an overall budget provision of £18.434 million.

The General Fund revenue position in 2020/21 was dominated by the impact of the Covid-19 pandemic.

Councillor Murray commented that it was good to get this outcome and that it was an excellent result. Councillor C Whitbread echoed this comment and added his thanks to the officers for nursing the council through the last year.

Decision:

1.         The Cabinet noted the General Fund revenue position at the end of Quarter 4 (Final Outturn) for 2020/21;

2.         The Cabinet noted the General Fund capital position at the end of Quarter 4 (Final Outturn) for 2020/21;

3.         The Cabinet noted the Housing Revenue Account revenue position at the end of Quarter 4 (Final Outturn); and

4.         The Cabinet noted the Housing Revenue Account capital position at the end of Quarter 4 (Final Outturn) for 2020/21.

Reason for Decision:

This report facilitated the scrutiny of the Council’s financial position for 2020/21. In terms of General Fund revenue, it was a very challenging year due to the financial pressures created by the Covid-19 pandemic. Whilst the HRA was not as badly affected by the pandemic, there were some other key spending pressures, which necessitated a reduction in planned revenue contributions in order to maintain the minimum balance on the HRA reserve.

Other Options:

There were no matters for decision in this report.