Issue - meetings

Financial and Corporate Performance 2020/2021

 

 

Meeting: 29/07/2021 - Cabinet (Item 35)

35 Financial and Corporate Performance 2020/2021 pdf icon PDF 188 KB

Report of the Executive Director 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 2020/21 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 2020/21.

 

A copy of the Council’s Corporate Performance Report for 2020/21 was attached as an appendix to the report.

 

Decisions Made:    That:

 

(A)          In respect of the Revenue Outturn:

 

 

(1)

the General Fund net surplus of £4.234m for 2020/21 that will increase the Council’s General Balances by £2.734m more than was budgeted for, be noted;

 

 

(2)

the increase in Schools’ balances of £4.853m for 2020/21 and the net reduction of non-schools centrally retained DSG balances of £2.230m, be noted;

 

 

(3)

the changes to Earmarked Reserves in 2020/21, be noted;

 

 

(4)

the creation of the five Earmarked Reserves detailed in paragraph 6.4(g) from various underspends that have occurred during 2020/21, be approved;

 

 

(B)          In respect of the Capital Outturn

 

 

(1)

the total capital outturn of £23.728m for the financial year 2020/21, be noted;

 

 

(2)

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

 

(C)          The Council’s Corporate Performance Report for 2020/21, be noted.

 

Reasons for the Decisions:

 

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.