Issue - meetings

Revenue & Capital Outturn 2019/20

Meeting: 22/07/2020 - Cabinet (Item 37)

37 Revenue & Capital Outturn 2019/20 pdf icon PDF 280 KB

The report presents the revenue and capital outturn for 2019/20, highlighting a net revenue under budget position of £0.12m after allowing for proposed carry forwards. This represents an improved position when compared with the last report, based on monitoring for the year to December 2019, which forecast an on-budget position after using £0.61m from the Financial Planning & Smoothing Reserve. The improved position resulted from continued mitigation of pressures through Directors cost reduction and income generation plans.

:

Additional documents:

Minutes:

The Chair invited Councillor Richard Samuel to introduce the report.

 

Councillor Richard Samuel introduced the report by saying this was very important report because it marked the end of the position for the first financial year of this current administration.  Council Samuel said that one of the things that he set as the target was to balance the books every year, if possible. This year the budget was actually under budget, just around the £250,000.  Councillor Samuel took the Cabinet through the report (as printed) and thanked the officers for the report.

 

Councillor Richard Samuel moved the recommendations as printed.

 

Councillor Neil Butters seconded the motion by thanking Councillor Samuel and the officers for this report.

 

RESOLVED (unanimously) that the Cabinet agreed to:

 

2.1  Note the revenue budget outturn under budget position of £0.12m for 2019/20, after allowing for carry forwards.

2.2  Approve the revenue carry forward proposals listed in the tables in paragraph 3.5.

2.3  Approve that all over budgets are written-off as an exception to the Budget Management Rules for 2019/20.

2.4  Approve the transfer of the net underspend of £0.12m to the Revenue Budget Contingency Reserve.

2.5  Note the revenue virements for 2019/20 reported for information in Appendix 2(i)

2.6  Note the reserve positions and the use of flexible capital receipts shown in paragraphs 3.16-3.18;

2.7  Note the outturn position of the 2019/20 capital programme in paragraph 3.24, and the funding outlined in paragraph 3.26;

2.8  Approve the capital rephasing and write-off of net underspends as listed in Appendix 3. This reflects the outturn spend position on projects against final budgets as detailed in Appendix 4(ii).

: