The County Council's Financial Position - 2019/20 Outturn
Decision Maker: Cabinet
Decision status: Recommendations approved
Is Key decision?: No
This report provides details for cabinet on the county council's 2019/20 revenue and capital outturn position.
The 2019/20 revenue position at the end of the year is net expenditure of £800.534m, which represents an in year underspend of £1.741m which is 0.22% of the revenue budget.
It is important to note that the revenue position includes a level of support from reserves that have previously been agreed. In some cases this is specific expenditure taking place because reserve/grant funding has been provided, however some funding is structural and in 2019/20 the structural reserve funding agreed to cover the funding gap totalled £10.245m, and if this support had not been available then expenditure would have exceeded income by £8.504m.
The capital delivery programme for 2019/20 totalled £124.886m with the programme delivering an outturn position of £121.382m, therefore resulting in a variance to budget of £3.504m.
Cabinet considered a report setting out details of the county council's 2019/20 revenue and capital outturn position.
(i) The council's final revenue and capital outturn position for 2019/20 be noted.
(ii) The transfer of the 2019/20 underspend to the transitional reserve be approved.
Report author: Chris Warren
Date of decision: 09/07/2020
Decided at meeting: 09/07/2020 - Cabinet