Issue - meetings

RESOLVED:

(1)       That the report entitled Revenue Budget Outturn 2019/20 be noted.

(2)       That a decrease of £129k in the 2019/20 net General Fund expenditure, as identified in table 3 and paragraph 8.1, to a total of £14.692million be approved.

(3)       That the changes to the 2020/21 General Fund budget, as identified in table 3 and paragraph 8.2, a total £344k increase in net expenditure be approved.

(4)       That, as referred to in paragraph 8.3, the transfer of £59k from the underspend on the General Fund to the Strategic Priority fund to enable the Leadership Team to undertake invest to save and/or continuous improvement projects be approved.

RECOMMENDED TO COUNCIL: That the net transfer to earmarked reserves, as identified in table 8, of £2.161million be approved.

REASONS FOR DECISIONS:

(1)       Members are able to monitor, make adjustments within the overall budgetary framework and request appropriate action of Services who do not meet the budget targets set as part of the Corporate Business Planning process.

(2)       Changes to the Council’s balances are monitored and approved.

Audio Recording – 51 minutes 50 seconds

Councillor Ian Albert, Executive Members for Finance and IT presented the report entitled Revenue Budget Outturn 2019/20.

He drew attention to the significant impact of Covid-19 on the Council’s finances and that not all of these impacts would necessarily be covered by central Government.

The recommendation from the Finance, Audit and Risk Committee were considered as follows:

(1)       That the report be noted;

(2)       That a decrease of £129k in the 2019/20 net General Fund expenditure, as identified in table 3 and paragraph 8.1, to a total of £14.692 million be approved;

(3)       That the changes to the 2020/21 General Fund budget, as identified in table 3 and paragraph 8.2, a total £344k increase in net expenditure, be approved;

(4)       That the transfer, as referred to in paragraph 8.3, of £59k from the underspend on the General Fund to the strategic Priority fund to enable the Leadership Team to undertake invest to save and/or continuous improvement projects be approved.

That Cabinet recommend to Council:

(1)       The net transfer to earmarked reserves of £2.161million be approved.

It was proposed by Councillor Ian Albert, Seconded by Councillor Martin Stears-Handscomb and:

RESOLVED:

(1)       That the report entitled Revenue Budget Outturn 2019/20 be noted.

(2)       That a decrease of £129k in the 2019/20 net General Fund expenditure, as identified in table 3 and paragraph 8.1, to a total of £14.692million be approved.

(3)       That the changes to the 2020/21 General Fund budget, as identified in table 3 and paragraph 8.2, a total £344k increase in net expenditure be approved.

(4)       That, as referred to in paragraph 8.3, the transfer of £59k from the underspend on the General Fund to the Strategic Priority fund to enable the Leadership Team to undertake invest to save and/or continuous improvement projects be approved.

RECOMMENDED TO COUNCIL: That the net transfer to earmarked reserves, as identified in table 8, of £2.161million be approved.

REASONS FOR DECISIONS:

(1)       Members are able to monitor, make adjustments within the overall budgetary framework and request appropriate action of Services who do not meet the budget targets set as part of the Corporate Business Planning process.

(2)       Changes to the Council’s balances are monitored and approved.