Issue - meetings

Year End 2019/20 Finance Report

Meeting: 10/09/2020 - Cabinet (Item 29)

29 Year End 2019/20 Finance Report pdf icon PDF 116 KB

Additional documents:

Decision:

RESOLVED that Cabinet:

 

A     Acknowledged the outturn position set out in within the report in respect of General Fund, Housing Revenue Account (HRA) and Capital Programmes for the year ending 31 March 2020.

 

B    Noted working balances at 31 March 2020 of £15,751,000 in respect of the HRA and nil in respect of the Major Repairs Reserve (MRR).

 

C    Approved:

 

             i)        The carrying forward of £162,720 of budgets from 2019/20 to 2020/21 in respect of the General Fund as set out in Appendix B to the report.

 

            ii)        The transfer to reserves of £1,104,000 as set out in Appendix C to the report.

 

           iii)        The contribution of £150,000 into a Covid-19 Earmarked Reserve as set out in Paragraph 17 of the report.

 

           iv)        The carrying forward of £180,172 of budgets from 2019/20 to 2020/21 in respect of the Housing Revenue Account as set out in Appendix E to the report.

 

            v)        The carrying forward of £1,739,197 of budgets from 2019/20 to 2020/21 in respect of the Non Housing Capital Programme as set out in Appendix I to the report.

 

           vi)        The carrying forward of £6,894,672 of budgets from 2019/20 to 2020/21 in respect of the Housing Capital Programme as set out in Appendix J to the report.

 

         vii)        the acquisition of properties up to the value of £12.6 million for inclusion in the Housing Revenue account to ensure that retained receipts are utilised for the provision of social housing.

Minutes:

Cabinet received a report which summarised the Council’s financial year end performance for 2019/20, proposed carryovers into 2020/21 and contributions to reserves.

 

Councillor Mike Danvers proposed the following additional wording at the end recommendation C of the report “the acquisition of properties up to the value of £12.6 million for inclusion in the Housing Revenue account to ensure that retained receipts are utilised for the provision of social housing.” The amendment was accepted by the proposer, Councillor Mark Ingall, and became part of the substantive motion.

 

Proposed by Councillor Mark Ingall (seconded by Councillor Mike Danvers) it was:

 

RESOLVED that:

 

A     Acknowledged the outturn position set out in within the report in respect of General Fund, Housing Revenue Account (HRA) and Capital Programmes for the year ending 31 March 2020.

 

B    Noted working balances at 31 March 2020 of £15,751,000 in respect of the HRA and nil in respect of the Major Repairs Reserve (MRR).

 

C    Approved:

 

                             i)        The carrying forward of £162,720 of budgets from 2019/20 to 2020/21 in respect of the General Fund as set out in Appendix B to the report.

 

                            ii)        The transfer to reserves of £1,104,000 as set out in Appendix C to the report.

 

                           iii)        The contribution of £150,000 into a Covid-19 Earmarked Reserve as set out in Paragraph 17 of the report.

 

                           iv)        The carrying forward of £180,172 of budgets from 2019/20 to 2020/21 in respect of the Housing Revenue Account as set out in Appendix E to the report.

 

                            v)        The carrying forward of £1,739,197 of budgets from 2019/20 to 2020/21 in respect of the Non Housing Capital Programme as set out in Appendix I to the report.

 

                           vi)        The carrying forward of £6,894,672 of budgets from 2019/20 to 2020/21 in respect of the Housing Capital Programme as set out in Appendix J to the report.

 

                         vii)        the acquisition of properties up to the value of £12.6 million for inclusion in the Housing Revenue account to ensure that retained receipts are utilised for the provision of social housing.