Agenda item

Report of the Group Director of Operations.

The Cabinet Member with the Resources Portfolio introduced the report of the Group Director of Operations (previously circulated) presenting the 2020/21 revenue outturn (subject to Audit), to allow Members to consider the results in light of the Council’s Medium Term Financial Plan (MTFP) and also to consider the Collection Fund and Housing Revenue Account outturn.

The submitted report stated the impact of COVID-19 on both expenditure and income had been significant; to date the Government had provided a grant of £6,682M to assist with those pressures and a further package of support to Councils in the form of a scheme to help reimburse lost income during the pandemic which was expected to be £1.991M for 2020/21; there would be a 75 per cent contribution to the Council Tax and Business Rate collection fund deficit due to COVID-19; should all funding come to fruition, there would be a COVID-19 surplus of £1.553M; and that the year end projection showed an overall improvement in the 2020/21 financial position of £5.260M.

References were made to variances from the original budget; changes since the Quarter 3 position; and to a number of carry forward requests totalling £0.801M.

RESOLVED - (a)  That the revenue outturn for 2020/21, as detailed in the submitted report, be noted.

(b)  That the COVID-19 pressures and government grants received to date, as detailed in the submitted report, be noted.

(c)  That the earmarked reserves, as requested in paragraphs 33 and 35 of the submitted report, be approved.

(d)  That the carry forward of resources, as referred to in paragraphs 29 to 32 of the submitted report, be noted and approved.

REASONS - (a)  To continue effective management of resources.

(b)  To continue to deliver services to agreed levels.