Issue - meetings

To consider the Budget 2020/21 Final Outturn report.

RESOLVED to approve:

·         The General Fund, Housing Revenue Account and Capital Programme outturn positions including the updated use of reserves and requested slippage for the Capital Programme

·         The allocation of the underspend/deficit

i.              General Fund underspend is allocated to the Waste Reserve

ii.             Housing Revenue deficit to the Potential Development Reserve

Councillor Hargreaves presented the Budget 2020/21 Final Outturn report, which detailed financial performance relating to the General Fund, Housing Revenue Account and Capital Programme, based upon actual expenditure and income for the financial year 2020/21. He thanked the Finance team and the Assistant Director – Resources for their hard work. He highlighted the following areas of the report:

·         The General Fund had an underspend of £161,000.

·         There was a small deficit in the Housing Revenue Account of £26,000.

·         The Capital Programme was reporting an overspend of £116,595,000, including slippages from the previous year. The overspend was due to the purchase of commercial investment properties.

·         The General Fund underspend would be allocated to the Waste Reserves in order to be used to support the proposed national changes to waste collection.

·         Central Government extended the business rates reliefs available and the Council was fully reimbursed for the cost of these.

·         The total net income generated during the 2020/21 financial year for all the Council’s commercial investments was £3,370,958.

In response to a question from Councillor Caton, the Assistant Director – Resources said costs in relation to the leaving the European Union were not rechargeable to Government.

The Chief Executive said the consequences of exiting the European Union were still ongoing and there was more work to be done.

            RESOLVED to approve:

The General Fund, Housing Revenue Account and Capital Programme outturn positions including the updated use of reserves and requested slippage for the Capital Programme

The allocation of the underspend/deficit:

i.                              General Fund underspend is allocated to the Waste Reserve

ii.                            Housing Revenue deficit to the Potential Development Reserve