Agenda item

Report of the Cabinet Member for Finance and Capital Assets  on the Revenue and Capital Outturn for 2020-21.

DECISION MADE: (CAB 21/22 31932)

On consideration of the report of the Cabinet Member for Finance and Capital Assets, Cabinet agreed the following:-

General Fund – Revenue

That Cabinet:

(i)  Noted the General Fund revenue outturn for 2020/21 is a balanced position after transfer of £8.63M surplus to reserves, as outlined in paragraph 4 and in paragraph 2 of Appendix 1. 

(ii)  Noted the performance of individual Portfolios in managing their budgets as set out in paragraphs 3 to 6 of Appendix 1 and Annex 1.1.

(iii)  Recommends Council to approve the budget carry-forward requests totalling £6.06M as outlined in paragraph 8 of Appendix 1 and detailed in Annex 1.3.

(iv)  Recommends Council to note the performance of the Property Investment Fund (PIF) as detailed in paragraphs 9 to 11 of Appendix 1 and Annex 1.4.

(v)  Noted that the level of General Fund balances at 31 March 2021 was £10.07M and the level of earmarked reserves was £134.55M as detailed in paragraph 18 and 19 of Appendix 1 and Annex 1.5.

(vi)  Noted the accounts for the Collection Fund in 2020/21 detailed in paragraphs 24 to 29 of Appendix 1 and Annex 1.7.

(vii)  Accepts the allocation of £1.011M Rough Sleeping Initiative funding for 2021/22 secured through the recent bidding round.

Housing Revenue Account

That Cabinet:

(viii)  Noted the HRA revenue outturn for 2020/21 as outlined in paragraph 6 and paragraphs 21 to 23 of Appendix 1 and Annex 1.6.

Capital Programme

That Cabinet:

(ix)  Noted the actual capital spending in 2020/21 for the General Fund was £50.20M and for the HRA was £33.97M, as outlined in paragraphs 10 and 11 below and detailed in paragraphs 3 to 6 of Appendix 2.

(x)  Noted the capital financing in 2020/21 as shown in table 3 of Appendix 2.

(xi)  Noted the revised capital programme for 2020/21 to 2025/26 and its financing as summarised in paragraph 11 of Appendix 2 and detailed in Annex 2.2.

(xii)  Noted the latest prudential indicators for the revised capital programme as detailed in Annex 2.3.