Agenda item

Report of the Cabinet Member for Finance and Income Generation on the Revenue and Capital Outturn for 2019-20.

DECISION MADE: (CAB 20/21 29227)

On consideration of the report of the Cabinet Member for Finance and Income Generation, Cabinet agreed the following:-

General Revenue Fund

It is recommended that Cabinet:

(i)  Notes the General Fund outturn for 2019/20 is a balanced position as outlined in paragraph 4 and in paragraph 1 of appendix 1.

(ii)   Notes the performance of individual Portfolios in managing their budgets as set out in paragraphs 2 to 4 of appendix 1 and annex 1.1.

(iii)   Recommends Council to approve the budget carry-forward requests totalling £2.36M as outlined in paragraph 5 of appendix 1 and detailed in annex 1.2.

(iv)   Recommends Council to note the performance of the Property Investment Fund (PIF) as detailed in paragraphs 7 to 9 of appendix 1 and annex 1.3.

(v)   Notes that the level of General Fund balances at 31 March 2020 was £10.07M and the level of earmarked reserves was £87.76M as detailed in paragraph 15 and 16 of appendix 1 and annex 1.4.

(vi)   Notes the accounts for the Collection Fund in 2019/20 detailed in paragraphs 20 to 21 of appendix 1 and annex 1.6.

Housing Revenue Account

It is recommended that Cabinet:

(i)  Notes the HRA outturn for 2019/20 as outlined in paragraph 6 and paragraphs 18 and 19 of appendix 1 and annex 1.5.

Capital Programme

It is recommended that Cabinet:

(i)   Notes the actual capital spending in 2019/20 for the General Fund was £56.03M and for the HRA was £41.05M, as outlined in paragraphs 9 and 10 below and detailed in paragraphs 2 to 4 of Appendix 2.

(ii)   Notes the proposed capital financing in 2019/20 as shown in table 3 of Appendix 2.

(iii)   Notes that £0.09M has been added to the programme with approval to spend, with relevant approvals. These additions are detailed in paragraph 11 of Appendix 2 and Annex 2.2.

(iv)   Notes that £0.54M has been added to the programme which requires approval by full Council. These additions are detailed in paragraph 12 of Appendix 2 and Annex 2.3.

(v)   Notes the difference to the amended programme, allowing for slippage, re-phasing and amendments as outlined in the report and set out in table 4 of appendix 2.