Decision details

To note the forecast revenue outturn position for 2019-20, including treasury management

RESOLVED:

1.  That the general fund outturn position for 2019-20 (Table 1 of the report) be noted.

2.  That the initial tranche of Covid-19 emergency grant funding of £11.1m, received on 27 March 2020 be noted.

3.  That authority be delegated to the strategic director of finance and governance in consultation with the cabinet member for finance, performance and Brexit, to determine the most appropriate allocation of Covid-19 emergency funding, including future tranches, to council priorities.

4.  That the key adverse variations and budget pressures underlying the outturn position be noted:

  (i)  The dedicated school grants (DSG) outturn position of an £18m deficit and the significant pressures on the high needs budgets (paragraphs 35-36 of the report)

  (ii)  the continuing budget pressures on temporary accommodation (paragraphs 52-53 of the report)

  (iii)  the costs of implementing the tree recovery plan (paragraphs 39-40 of the report)

  (iv)  emerging financial issues and claims associated with the leisure management contract (paragraph 41 of the report).

5.  That the utilisation of £4m contingency (paragraph 66 of the report) to offset adverse variances on temporary accommodation, tree maintenance and leisure contract be noted.

6.  That the housing revenue account outturn for 2019-20 (Table 2, paragraphs 62-71 of the report) be noted.

7.  That the detailed movements of earmarked reserves as set out in Appendices B, C and D of the report be noted.

8.  That treasury management activity in 2019-20 (paragraph 90-98 of the report) be noted.

9.  That the interdepartmental budget movements that exceed £250k, as shown in Appendix A of the report be approved.

10.  That the interdepartmental general fund budget movements that are less than £250k as shown in Appendix A of the report be noted.

11.  That the outturn position implications for the 2020-21 budgets and beyond (set out in paragraphs 85-89 of the report) be noted.