Issue - meetings

Cabinet:

a)    Acknowledged the 2020/21 general fund revenue outturn position and the net underspend (after income from Taxation and Government Grants) in the year of £0.281 million and the explanations provided for the variances compared to the revised 2020/21 revenue budget;

b)    Acknowledged the consequent decrease in the General Fund as at 31 March 2021 of £1.994m to around £14.5m;

c)    In relation to the Capital Programme:

(i) Noted the 2020/21 capital outturn of £43,252 million;

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

(iii) Recommended to Council additional lending of £5.237 million in 2021/22 to enable Ermine Street housing to meet its target of 500 property purchases.

(iv) Noted that a full review of the Capital Programme will be submitted to Cabinet at its December 2021 meeting to include re-phasing of the existing programme and new Capital bids for the next budget cycle.

The Cabinet received the General Fund Outturn. Councillor John Williams, Lead Cabinet Member for Finance, introduced the report. He thanked the Revenues and Benefits team for the high tax collection during the coronavirus pandemic and commended the work of the business support team for supporting businesses across the district.

The Leader of the Council closed the discussion, thanked the financial teams for their continued work during the pandemic, and Cabinet:

a)    Acknowledged the 2020/21 general fund revenue outturn position and the net underspend (after income from Taxation and Government Grants) in the year of £0.281 million and the explanations provided for the variances compared to the revised 2020/21 revenue budget;

b)    Acknowledged the consequent decrease in the General Fund as at 31 March 2021 of £1.994m to around £14.5m;

c)    In relation to the Capital Programme:

(i) Noted the 2020/21 capital outturn of £43,252 million;

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

(iii) Recommended to Council additional lending of £5.237 million in 2021/22 to enable Ermine Street housing to meet its target of 500 property purchases.

(iv) Noted that a full review of the Capital Programme will be submitted to Cabinet at its December 2021 meeting to include re-phasing of the existing programme and new Capital bids for the next budget cycle.