Issue - meetings

This report presents the council’s performance against budget for the period 1 April 2019 to 31 December 2019.

In summary, the general fund revenue projected outturn for 2019/20 is a pressure within net expenditure of £5.3 million(compared with £4.5 million previously reported at September).  These pressures can be met from the additional resources (£2.5 million revenue budget contingency and £6.5 million service-specific Financial Resilience earmarked reserves) set aside to manage the additional level of uncertainty in this first year of the new council.

At this stage the contingency within the budget is projected to be fully used with a recommendation to the Council to release up to £2.7 million of the Financial Resilience earmarked reserves to support the annual budget. This will allow services to maintain their projected level of activity and related spending plans to deliver on agreed priorities. 

In the appendices included with the end of September report and in appendices C and D in this report, the Corporate Directors have provided details of the service pressures and actions they are taking in mitigation.

The Portfolio Holder for Finance presented a report, a copy of which had been circulated to each Member and a copy of which appears as Appendix 'C' to these Minutes in the Minute Book.

Cabinet were advised of the council’s performance against budget for the period 1 April 2019 to 31 December 2019.

In relation to this the Portfolio Holder confirmed that savings had been made from each directorate.

RESOLVED that:-

(a)          the report contents and the projected outturn position be noted;

(b)          the reports from the Corporate Directors of Adult Social Care and Resources in the appendices to the report be noted; and

(c)          the forecast year end outturn positions for capital, reserves and Housing Revenue Account neighbourhood accounts be noted.

RECOMMENDED that Council agree to release up to £2.7 million of the Financial Resilience earmarked reserves to support the 2019/20 annual budget as detailed in paragraph 47 of the associated report.

Voting: Unanimous

Portfolio Holder: Finance

The Portfolio Holder for Finance presented a report, a copy of which had been circulated to each Member and a copy of which appears as Appendix 'C' to these Minutes in the Minute Book.

Cabinet were advised of the council’s performance against budget for the period 1 April 2019 to 31 December 2019.

In relation to this the Portfolio Holder confirmed that savings had been made from each directorate.

RESOLVED that:-

(a)          the report contents and the projected outturn position be noted;

(b)          the reports from the Corporate Directors of Adult Social Care and Resources in the appendices to the report be noted; and

(c)          the forecast year end outturn positions for capital, reserves and Housing Revenue Account neighbourhood accounts be noted.

RECOMMENDED that Council agree to release up to £2.7 million of the Financial Resilience earmarked reserves to support the 2019/20 annual budget as detailed in paragraph 47 of the associated report.

Voting: Unanimous

Portfolio Holder: Finance