Decision details

The County Council's Financial Position - 2019/20 Outturn

Decision Maker: Cabinet

Decision status: Recommendations approved

Is Key decision?: No

Purpose:

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.

 

Decisions:

Cabinet considered a report setting out details of the county council's 2019/20 revenue and capital outturn position.

 

Resolved: That:

 

(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

Accompanying Documents: