Agenda item

Cabinet noted:

1. the contents of the report and the final position of the General fund for the financial year 2020/21 the key reasons for budget variances as set out in Appendix A of the report.
2. A general fund in-year cash surplus of £19.7 million on non-covid services to be transferred to reserves.
3. A general fund in-year cash surplus of £8.1 million with respect to impact of Covid-19 to be transferred to earmarked reserve to mitigate Covid-19 impact and phased commitments in future years.
4. the final outturn underspend of the Council’s capital expenditure (£33 million) and rephasing.
5. the outturn position for the Dedicated Schools Grant (£7.1 million overspend and the total carried forward deficit of £10.0 million.
6. the outturn position for the Housing Revenue Account an underspend of £11.4 million to be carried forward for the council’s landlord functions.
7. the decisions taken under delegated authority in relation to Covid response as set out in Appendix A Section 10.
8. the implication of the final outturn on the Council’s reserve position.
9. the in-year collection levels for both Business Rates and Council Tax.
10. the level of aged debt as at 31 March 2021; and
11. the performance on delivery of savings as outlined in Appendix A2.

Cabinet approved:

1. the carry forward funding for each scheme within the Capital Programme as set out in Appendix A4.
2. the £7.750 million contribution to earmarked reserves from the year end underspend.
3. the residual underspend of £12.0 million is transferred to the Council’s general reserve to improve our financial resilience.
4. the incorporation of additional funding in the Council’s 2021/22 budget as set out in Appendix A Section 10.