Agenda item

[Report of the Director for Finance. To be introduced by the Cabinet Member for Finance and Strategic Regeneration.]

This report sets out the provisional outturn for 2019/20 for the General Fund, HRA, DSG and the Capital Programme compared to budget.  It also includes proposed transfers to/from reserves, revenue and capital carry forward requests and any budget virements or adjustments.

The Cabinet Member for Finance and Strategic Regeneration introduced the report, which set out the provisional outturn for 2019/20 for the General Fund, HRA, DSG and the Capital Programme compared to budget. It provided explanations of significant under/overspends and includes proposed transfers to/from reserves, revenue and capital carry forward requests and any budget virements or adjustments.

In response to questions from Cllr Cawley- Harrison, the following information was noted:

• In relation to the potential up surge in mental health spend as a result of Covid 19 and lock down, the Cabinet Member highlighted the discussion at the previous evening’s Council meeting where there was  Councillor concern expressed about funding of local authorities. Statements were made about the expectation for government to fulfil its pledges to reimburse local authorities’ Covid 19 spending. The Cabinet Member could not expressly agree, at this meeting, that the Council will spend money which it had yet to obtain but would look into this critical issue.

• The Cabinet Member for Adults and Health added that there was a lot of concern about the expected increase in mental health referrals. She advised that the Council with health and community partners were aiming to meet this need. The BEH- MET were already looking at internal reforms to manage and mitigate the demand. This was also part of recovery and renewal plans being taken forward with partners. There was already good understanding of the data to help inform the expected need and there had already been extended outreach work in the community so an awareness of issues was being compiled and preventative measures put in place to enable the Council and partners to navigate the challenges ahead.

• In response to slippage on Capital projects, there were projects that had to be put on hold for health and safety reasons as the country was still coming out of the lockdown. There would be a review on the next steps, considering those projects that could discontinued and the impact of this going forward. It was noted that the Council were not alone in its current position on capital projects.

• Noted that there was a review taking place of the accommodation strategy and there would follow an all member presentation on way forward for Council assets, in particular those in the Wood Green area, with plans to be shared with Councillors.

RESOLVED

1.          To note the provisional revenue and capital outturn for 2019/20 as detailed in the report;

2.          To approve the capital carry forwards in Appendix 3 and £1.14m for Highways       works;

3.          To approve the appropriations to/from reserves at Appendix 5 of the report;

4.          To approve the budget virements as set out in Appendix 6 of the report.

Reasons for decision.

A strong financial management framework, including oversight by Members and senior management is an essential part of delivering the Council’s priorities and statutory duties.

Cabinet is responsible for the strategic management of Council resources and for taking decisions on such matters including budget management and control, budget virements above a certain value and the achievement of value for money.

Alternative options considered

The Director of Finance, as Section 151 Officer, has a duty to consider andpropose decisions in the best interests of the authority’s finances and that bestsupport delivery of the agreed borough plan outcomes whilst maintaining financial sustainability.

The report of the Director of Finance has addressed these points. Therefore,no other options have been considered.