Issue details

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

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.

 

Decision type: Non-key

Decision status: Recommendations Approved

Divisions affected: (All Divisions);

Notice of proposed decision first published: 09/07/2020

Anticipated restriction: Part I  -

Decision due: 9 Jul 2020 by Cabinet

Lead member: Leader of the County Council

Lead director: Chief Executive & Director of Resources

Contact: Chris Warren Email: chris.warren@lancashire.gov.uk.

Decisions

Agenda items