Issue - meetings

This report sets out the outturn for income and expenditure versus the revenue budget for 2020/21 and other key financial data.

Cabinet REOLVED to note the overall financial outturn position for 2020/21.

Councillor McLennan (Deputy Leader and Lead Member for Resources) introduced the report which detailed the outturn for income and expenditure against the Council’s revenue budget for 2020/21 and other key financial data.  Cabinet were informed that whilst the outturn in relation to the General Fund and Housing Revenue Account (HRA) was in line with the forecast position and reflected a breakeven position for the year there remained a deficit (£5.6m) in relation to Dedicated Schools Grant (DSG).  As required by the Department for Education, the Council had developed a management plan which contained a number of options and strategies as part of a DSG recovery plan which it was noted would continue to be monitored on a termly basis.

Cabinet noted the challenging budgetary impact created as a result of the additional costs and loss of income due to the Covid-19 pandemic, which had been detailed within the report, along with the mitigating action taken to offset the pressures identified.

In summing up Councillor M.Butt thanked the Deputy Leader and finance team for their efforts during such a challenging year and it was RESOLVED that Cabinet note the overall financial outturn position for 2020/21.