Issue - meetings

General Fund Outturn

Meeting: 09/09/2020 - Weekly Bulletin (Item 8.)

2019/2020 Provisional General Fund Revenue and Capital Outturn

Cabinet:

 

(a)       Acknowledged the 2019/2020 general fund revenue outturn position and the net underspend (after income from Taxation and Government Grants) in the year of £4.665m and the explanations provided for the variances compared to the approved 2019/2020 revenue budget;

(b)       Acknowledged the consequent increase in the General Fund as of 31 March 2020 of £4.665m to around £16.5m;

(c)       Recommended to Full Council a General Fund Revenue Carry Forward in the sum of £30,000.

(d)       In relation to the Capital Programme:

(i) Noted the 2019/2020 capital budget outturn of £42,302 million;

(ii) Recommended to Full Council the carry forwards of £2.081 million in relation to General Fund capital projects due mainly to slippage.

(iii) Recommended to Full Council additional funding of £105,000 from earmarked reserves to meet the expected cost of the Lighting renewal programme.

(iv) Noted that a full review of the Capital Programme will be submitted to Cabinet at its October 2020 meeting to include rephasing of the existing programme and new Capital bids for the next budget cycle.

 

This decision was first published on 4 September and so the deadline for call-in is 5pm on 11 September.


Meeting: 02/09/2020 - Cabinet (Item 9)

9 2019/2020 Provisional General Fund Revenue and Capital Outturn pdf icon PDF 347 KB

Decision:

Cabinet:

 

(a)      Acknowledged the 2019/2020 general fund revenue outturn position and the net underspend (after income from Taxation and Government Grants) in the year of £4.665m and the explanations provided for the variances compared to the approved 2019/2020 revenue budget;

(b)      Acknowledged the consequent increase in the General Fund as of 31 March 2020 of £4.665m to around £16.5m;

(c)      Recommended to Full Council a General Fund Revenue Carry Forward in the sum of £30,000.

(d)      In relation to the Capital Programme:

(i) Noted the 2019/2020 capital budget outturn of £42,302 million;

(ii) Recommended to Full Council the carry forwards of £2.081 million in relation to General Fund capital projects due mainly to slippage.

(iii) Recommended to Full Council additional funding of £105,000 from earmarked reserves to meet the expected cost of the Lighting renewal programme.

(iv) Noted that a full review of the Capital Programme will be submitted to Cabinet at its October 2020 meeting to include rephasing of the existing programme and new Capital bids for the next budget cycle.

Minutes:

Cabinet considered a report from the Head of Finance. Councillor John Williams, Lead Cabinet Member for Finance, highlighted the reserves and the increase in income from commercial sources. Councillor Heather Williams asked about the savings from the Health and Wellbeing budget, and the stated redundancy in the table in paragraph 5. Councillor John Williams undertook to respond in writing.

Following further comments, Cabinet:

 

(a)      Acknowledged the 2019/2020 general fund revenue outturn position and the net underspend (after income from Taxation and Government Grants) in the year of £4.665 million and the explanations provided for the variances compared with the approved 2019/2020 revenue budget;

(b)      Acknowledged the consequent increase in the General Fund as at 31 March 2020 of £4.665 million to around £16.5 million;

(c)      Recommended to Full Council a General Fund Revenue Carry Forward in the sum of £30,000.

(d)      In relation to the Capital Programme:

(i) Noted the 2019/2020 capital budget outturn of £42.302 million;

(ii) Recommended to Full Council the carry forwards of £2.081 million in relation to General Fund capital projects due mainly to slippage.

(iii) Recommended to Full Council additional funding of £105,000 from earmarked reserves to meet the expected cost of the Lighting renewal programme.

iv) Noted that a full review of the Capital Programme would be submitted to Cabinet at its October 2020 meeting to include rephasing of the existing programme and new Capital bids for the next budget cycle.