To consider a report of the Executive Member for Finance and Governance & Director of Finance and Systems.

The Executive Member for Finance and Governance and the Director of Finance and Systemssubmitted a report which informed Members of the 2020/21 outturn figures relating to both Revenue and Capital budgets. It also summarised the outturn position for Council Tax and Business Rates within the Collection Fund.

In considering the report, Members raised the question of the extent to which the outturn position was in line with normal expectations, and to which the previous year’s position might be predictive of the current. It was noted in response that it was currently very early in the current year; but that the unprecedented and unpredictable nature of the financial challenges facing the Council were likely to result, for example, in a shift in the balance between expenditure and contributions to reserves.

RESOLVED -

(1)       That the report, and the revenue outturn position showing a budget underspend of £2.804m, which will be transferred to the Budget Support Reserve, be noted.

(2)       That the reserves position as detailed in paragraph 7 and Appendix 2 of the report be noted.

(3)       That the final capital programme outturn position as detailed in paragraphs 27 to 40 of the report be noted.