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Decision details
2019/20 Finance Outturn Report
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
The report provides a summary of the overall
financial performance and use of resources against approved budget
for the financial year 2019/20.
Decision:
Cabinet noted:
- the contents of the report and the final position of the General fund for the financial year 2019/20 of a £5.3 million deficit, and the key reasons for budget variances as set out in Appendix A of the report;
- the final outturn of the Council’s capital expenditure, of total expenditure of £144.7 million compared to a final capital budget for the year of £142.8 million;
- the outturn position for the Dedicated Schools Grant of £2.9 million deficit to be carried forward;
- the outturn position for the Housing Revenue Account of £1 million underspend to be carried forward for the councils landlord functions;
- the balanced outturn position of the public health grant;
- the implication of the final outturn on the Council’s reserve;
- the in-year collection levels for both Business Rates and Council Tax;
- the level of aged debt as at 31 March 2020; and
- the performance on delivery of savings;
- the use of £0.5 million of covid-19 emergency grant funding against pressures in March.
Cabinet approved:
1. the re-profiling of the acceleration or slippage for each scheme within the Capital Programme as set out in Appendix A4
Cabinet delegated:
1. authority to the Director of Finance after consultation with the Deputy Mayor and Cabinet Member for Finance, Governance & Performance to make any technical adjustments to ear-marked reserves necessary on receipt of the final business rates income.
Report author: Michael Pilcher
Publication date: 02/06/2020
Date of decision: 02/06/2020
Decided at meeting: 02/06/2020 - Cabinet
Effective from: 12/06/2020
Accompanying Documents: