Issue - meetings

To consider the report of the Cabinet Member for Performance and Resources presenting the Council’s final general fund revenue, capital outturn positions against agreed budgets for the 2020/21 financial year, and report on performance against certain key financial performance indicators.

RESOLVED that:

                    (1)         it is noted that:

a)         the year-end position for the financial year 2020/21 is a decrease to the General Fund balance of £122k against a budgeted decrease of £48k

b)         the General Fund balance has decreased from £1.501m to £1.379m at the end of 2020/21

c)          that the level of earmarked reserves has increased by £9.738m to £13.771m, including the creation of an £8.929m Section 31 Grant Repayment Reserve

d)         the impact of Covid-19 pandemic on the Council year end position

                    (2)         the transfers to and from earmarked reserves as detailed in the table in section 6 of the report is approved.

Cabinet considered the report of the Cabinet Member for Performance and Resources that presented the Council’s final general fund revenue, capital outturn positions against agreed budgets for the 2020/21 financial year and reported on performance against certain key financial performance indicators.

The Cabinet Member for Performance and Resources highlighted the key features of the report including a decrease to the general fund (3.2) which had improved by £100,000 in the final quarter since the quarter 3 report to Cabinet (10^th March 2021 agenda item 24).  She drew Member’s attention to the creation of an £8.9 million Section 31 Grant Repayment Reserve (2.1.1iii) as had been discussed at the Overview and Scrutiny Committee (5^th July 2021 minute 15).  The Cabinet Member for Performance and Resources reminded Members that the overspend position in providing Housing Subsidy (5.9) had been due to factors beyond the Council’s control.  She placed the position of each portfolio budget in the adverse context of the COVID-19 pandemic.  She noted that claims had been submitted to the central government’s Sales, Fees and Charges Lost Income scheme (3.7) and advised that the scheme would be extended.

The Cabinet Member for Performance and Resources payed tribute to the work of all officers, especially those in the finance team and thanked them on behalf of Cabinet.  The Cabinet Member for Environment added his personal thanks to the Head of Policy and Resources his team.  He commented on the achievements of all officers pulling together despite the difficult circumstances of COVID-19.  The Cabinet Member for Planning and Housing Strategy noted that the additional costs of COVID-19 in relation to accommodating homeless people had been met through central government grants.  He took the opportunity to thank the Head of Communities, Housing Innovation Manager and the housing and homelessness teams for what they had accomplished.

RESOLVED that:

       (1)                      it is noted that:

a)  the year-end position for the financial year 2020/21 is a decrease to the General Fund balance of £122k against a budgeted decrease of £48k

b)  the General Fund balance has decreased from £1.501m to £1.379m at the end of 2020/21

c)  that the level of earmarked reserves has increased by £9.738m to £13.771m, including the creation of an £8.929m Section 31 Grant Repayment Reserve

d)  the impact of Covid-19 pandemic on the Council year end position

       (2)                      the transfers to and from earmarked reserves as detailed in the table in section 6 of the report is approved.