Issue - meetings
Financial monitoring for the period to the end of December 2020
Meeting: 23/02/2021 - Cabinet (Item 31)
31 Financial monitoring for the period to the end of December 2020 PDF 302 KB
To consider the report of the Cabinet Member for Finance and Income Generation detailing the revenue and capital financial monitoring for the period to the end of December 2020.
Additional documents:
- Appendix 1 Revenue Financial Monitoring for the period to December 2020, item 31 PDF 344 KB
- Annex 1.1 - General Fund Forecast Qtr 3, item 31 PDF 367 KB
- Annex 1.2 - COVID-19 Government Grants, item 31 PDF 230 KB
- Annex 1.3 - Treasury Management Qtr 3, item 31 PDF 320 KB
- Annex 1.4 - Key Financial Risks Qtr 3, item 31 PDF 454 KB
- Annex 1.5 - Financial Health Indicators Qtr 3, item 31 PDF 202 KB
- Annex 1.6 - Housing Revenue Account Forecast Qtr 3, item 31 PDF 32 KB
- Annex 1.7 - Collection Fund Forecast Qtr 3, item 31 PDF 13 KB
- Appendix 2 Capital Financial Monitoring for the period to December 2020, item 31 PDF 162 KB
- Annex 2.1 - GF & HRA Programme Changes Since Last Reported Position, item 31 PDF 10 KB
- Annex 2.2 - GF & HRA Major Forecast Variance Changes Since Last Reported Position, item 31 PDF 11 KB
- Annex 2.3 - GF & HRA Slippage & Rephasing as at December 2020, item 31 PDF 118 KB
- Annex 2.4 - GF Capital Resources Available as at December 2020, item 31 PDF 16 KB
- Annex 2.5 - GF & HRA Revised 5 Year Programme and Use of Resources, item 31 PDF 120 KB
Minutes:
DECISION MADE: (CAB 20/21 31166)
On consideration of the report of the Cabinet Member for Finance and Income Generation, Cabinet agreed the following:-
General Revenue Fund
i) Note the forecast outturn position for business as usual activities is a £4.59M surplus after applying corporate funds, as outlined in paragraph 4 and in paragraph 1 of appendix 1.
ii) Note the performance of treasury management, and financial outlook in paragraphs 11 to 15 of appendix 1.
iii) Note the Key Financial Risk Register as detailed in paragraph 18 of appendix 1.
iv) Note the performance against the financial health indicators detailed in paragraphs 22 and 23 of appendix 1.
v) Note the performance outlined in the Collection Fund Statement detailed in paragraphs 27 to 32 of appendix 1.
vi) Notes the financial position arising from COVID-19, as outlined in paragraphs 4 to 9 of Appendix 1.
Housing Revenue Account
vii) Note the forecast outturn position on business as usual activities is a surplus of £0.18M as outlined in paragraph 5 and paragraphs 24 and 25 of appendix 1.
viii) Notes the financial position arising from COVID-19, as outlined in paragraph 26 of Appendix 1.
Capital Programme
ix) Notes the revised General Fund Capital Programme, which totals £661.70M as detailed in paragraph 1 of appendix 2.
x) Notes the HRA Capital Programme is £212.17M as detailed in paragraph 1 of appendix 2.
xi) Notes that the overall forecast position for 2020/21 at quarter 3 is £122.94M, resulting in a potential surplus of £58.30M, as detailed in paragraphs 4 and 5 of appendix 2.
xii) Notes that the capital programme remains fully funded up to 2024/25 based on the latest forecast of available resources although the forecast can be subject to change; most notably regarding the value and timing of anticipated capital receipts and the use of prudent assumptions of future government grants to be received.
xiii) Notes that £5.84M has been added to the programme with relevant approvals. These changes are detailed in annex 2.1 to appendix 2.
xiv) Approves slippage and rephasing as detailed in paragraph 2 and 3 of appendix 2. Noting that the movement has zero net movement over the 5-year programme.
xv) Notes changes to the capital programme arising from COVID-19 as detailed in paragraphs 6 and 7 of appendix 2.