Agenda item

Fourth Quarter Financial, Procurement & Performance Review 2020/21

Minutes:

The purpose of the report was to inform members of the Council’s overall performance and financial position for the period ended 31st March (“Fourth Quarter 2020/21”).  The report was considered by the Corporate Select Committee on 26 July 2021.  The position was summarised as follows:

 

Subject

Headline

Reference

Finance

The Finance headlines for the Fourth Quarter are:

Performance against Budget

·           At the Quarter Four stage the General Fund provisional outturn for 2020/21 is an underspend of £4,921,342 (including £3,360,640 of s31 grants, in respect of Business Rates reliefs, received in advance to be applied in 2021/22)

Efficiency Programme

·           At Quarter 4 £210,000 in savings have been achieved against the 2020/21 revised efficiency target of £257,000 (General Fund)

Housing Revenue Account

·            The Housing Revenue Account is in surplus (against budget) by £2,240,494 at the Quarter Four (provisional outturn) stage.

Capital Programme

·           The General Fund Capital Programme budget for 2020/21 as revised is £2.7 million.  The outturn is £2.8 million, representing an overspend of £0.12 million at year end.

·           The HRA Programme for 2020/21 as revised is £3.97 million.  The outturn is £3.73 million which represents a £0.25 million underspend.

Treasury Management

·           Cash investments held at 31st March 2021 totalled £28.4 million.

·           Council borrowing at 31st March 2021 totalled £66.8 million.

·           The Council’s net interest general fund budget is in surplus by £32,306 with a £7,984 deficit on the HRA

Revenue Collection

·           97.83% of Council Tax was collected by 31st March 2021, compared to 98.41% for the same period last year.

·           98.11% of Business Rates was collected by 31st March 2021 compared with 98.39% for the same period last year.

·           At the end of Quarter Four the value of sundry debt over 60 days old was £182,978 which compares to £162,981 at 31st March 2020

Appendix A

Procurement

The Procurement headlines for the Fourth Quarter are:

·       14 procurement activities were completed

·        The Procurement forward plan includes 88 procurement activities for completion/start in 2021/22 (either HPBC only or joint)

·         At the 31st March 2021, 62% of procurement activity undertaken was on the forward plan and the Council paid 95% of its invoices within 30 days

Appendix B

Performance

The Performance headlines for the Fourth Quarter are:

·         67% of the key performance indicators met target, with 41% of measures performing  better than last year

·         The Council received 86 complaints, 328 comments and 174 compliments in the Fourth Quarter.

 

Appendix C

 

 

Options considered:

 

Detailed analysis is contained within the appendices.

 

RESOLVED:

 

1.    That the Fourth Quarter 2020/21 financial, procurement and performance position detailed in Appendices A, B and C and summarised at 3.3 of the covering report be noted;

2.    That the allocation of the surplus on the General Fund Revenue Account to reserves as explained in Appendix A (paragraph 2.11) be approved;

3.    That the proposal to carry forward unspent revenue budget as described in Appendix A (Paragraph 2.14) be approved;

4.    That the proposals to carry forward unspent capital budget as set out in Appendix A (Paragraph 6.5 and 7.5) be approved; and

5.    The write offs set out in Appendix D of the report be approved.

 

 

Supporting documents: