Issue - meetings

Money Matters 2019/20 Position – Quarter 2

Meeting: 16/01/2020 - Cabinet (Item 4)

4 Money Matters 2019/20 Position - Quarter 2 pdf icon PDF 150 KB


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Cabinet considered the Money Matters report, setting out an update on the county council's 2019/20 revenue and capital budget position and an updated medium term financial strategy (MTFS) covering the period 2020/21 to 2023/24.


Resolved: That:

  i.  the current forecast underspend of £12.135m on the revenue budget in 2019/20 be noted.

  ii.  the revised funding gap of £28.438m covering the period 2020/21 to 2023/24 as set out in the revised financial outlook forecast for the Council be noted.

  iii.  the budget adjustments for 2020/21, and following years' changes, included in the revised MTFS, be approved. 

  iv.  the contents of the county council's reserves position be noted.

  v.  a re-profiled 2019/20 capital delivery programme of £147.107m as presented within the body of the report be approved.

  vi.  the Chief Executive and Director of Resources; the Director of Finance and his staff; and all staff be thanked for their hard work in achieving the improvement in the county council's financial position and the forecast reduced future funding gap.