Agenda item

To receive an overview of the Council’s Revenue and Capital outturn.

The interim Chief Finance Officer, Christopher Hartgrove, introduced the Revenue and Capital Outturn for 2019-20 report.  He noted that the figures were still subject to external audit and it was technically possible it might change.

It was a good news story for 2019-20. The Council had ended the year with an overall positive revenue variance on General Fund service budgets of £908,000, whereas the ring-fenced Housing Revenue Account recorded a negative revenue variance of £285,000, for which Covid had played a part.

The minimum contingency balance requirements adopted by the Council had been met at year-end on both the General Fund and the HRA.

Councillor Brookes commented that at another Committee meeting it had been said that kitchen and bathroom improvements had stopped; had they stopped because we needed to save money at present or was it because of Covid. A Small said that it was largely Covid related, but this had stopped in 20/21 but this report was for 19/20.

Councillor Jon Whitehouse asked if this was a phasing issue because of Covid, to be picked up later, or is it a permanent saving. Also, on the HRA right to buy receipts – have they been reinvested or given back to the government. Councillor J Philip said that this was a finance report was on the outturn for 2019/20, this should be taken up with the panel that looks into housing repairs. Councillor Whitehouse said that it was appropriate to ask if it was a phasing issue or a saving. Councillor Philip said that this report looked at what happened, not an outlook one.  C Hartgrove said that he believed that it was just a phasing issue. Also, he could confirm that return of RTB receipts was averted at the end of 2019/20 at year end; as for 20/21 the current issues were that there were some slight delays on this and was some risks if the council did not spend the receipts.

Councillor Bassett noted that at appendix A, general fund revenue outturn, business support, accommodation, we had allowed £19k with a variance of £1.026million with an actual of £1.045million what caused the variance? He was told that it was an accounting adjustment. The actual variance was only £4k.

Councillor Bassett then asked about the large structural schemes, was that all down to the damaging tree roots. He was told that it was chiefly that, but there were other issues as well.

RESOLVED:

(1)    The Committee noted the Revenue outturn for 2019/20 for the General Fund and Housing Revenue Account (HRA) as presented within the report, including Appendix A;

(2)    The Committee noted the General Fund Reserve position presented in Section 4;

(3)    The Committee noted the HRA Balance set out in Section 4, including the retention of £0.5 million originally approved for transfer to the Self-Financing Financing Reserve (prior to consideration for approval by Cabinet); and

(4)    The Committee noted the Capital Programme outturn for 2019/20 as presented within the report, including Appendix B.