Issue - meetings

Financial and Corporate Performance 2019/20

 

 

Meeting: 17/09/2020 - Council (Item 18)

18 Financial and Corporate Performance 2019/20 pdf icon PDF 176 KB

Report of the Executive Director of Corporate Resources and Customer Services

Additional documents:

Minutes:

The Council considered the report of the Executive Director of Corporate Resources and Customer Services in relation to the Financial and Corporate Performance of the Council for 2019/20.

 

It was moved by Councillor Maher, seconded by Councillor Fairclough and

 

RESOLVED:

 

That the balance on the Business Rate Reserve (£1.976m) be released back to the General Fund in 2019/20 to support the outturn position, as detailed in paragraph 6.5 (e) to the report, be approved.

 

Meeting: 30/07/2020 - Cabinet (Item 24)

24 Financial and Corporate Performance 2019/20 pdf icon PDF 176 KB

Report of the Executive Director of Corporate Resources and Customer Services

Additional documents:

Minutes:

The Cabinet considered the report of the Executive Director - Corporate Resources and Customer Services advising of the revenue and capital outturn position in relation to the 2019/20 financial year; and that in doing so the report outlined any key variations and where appropriate any impact on future years’ financial performance.  In addition, the report provided details of the Council’s Corporate Performance for 2019/20.

 

A copy of the Council’s Corporate Performance Report for 2019/20 was attached as an appendix to the report.

 

Decision Made:

 

(A)

in respect of the Revenue Outturn:

 

(1)

the General Fund net deficit of £0.555m for 2019/20 that will reduce the Council’s General Balances be noted;

 

(2)

the reduction in Schools’ balances of £2.773m for 2019/20 and the net reduction of non-schools centrally retained Dedicated Schools Grant balances of £4.155m be noted;

 

(3)

the utilisation of £0.620m of the Council’s allocation of COVID-19 emergency funding to offset income losses experienced during 2019/20 as a result of restrictions imposed by the Government in response to the pandemic (paragraph 3.3.8 of the report) be approved;

 

(4)

the temporary utilisation of £0.653m from the Transforming Sefton Reserve to fund increased Debt Charges in 2019/20 relating to the Minimum Revenue Provision (MRP) be approved and it be noted that this will be repaid from future reductions in the MRP charge (paragraph 6.5c of the report); and

 

(5)

it be recommended to Council that the balance on the Business Rates Reserve (£1.976m) be released back to the General Fund in 2019/20 to support the outturn position (paragraph 6.5e of the report);

 

(B)

in respect of the Capital Outturn:

 

(1)

the total capital outturn of £25.175m for the financial year 2019/20 be noted; and

 

(2)

the successful delivery of a number of schemes as set out in section 11 of the report, that have supported the delivery of the core purpose, be noted; and

 

(C)

the Council’s Corporate Performance Report for 2019/20 be noted.

 

Reasons for Decision:

 

The production of a revenue and capital outturn report is a key feature of effective financial management and will allow Members to make informed decisions that will support service delivery and medium-term financial sustainability.

 

Alternative Options Considered and Rejected:

 

None.