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Apologies To receive apologies for absence. Minutes: Apologies for absence had been received from the Corporate Director (Adult and Children’s Services), the Director (Economy and Environment) and the Head of Transformation and Communications. |
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To authorise the Chair to sign the minutes of the meetings held on 12th March and 18th March 2021 as correct records. Additional documents: Minutes: The Leader was authorised to sign the minutes of the meetings held on 12th and 18th March as correct records. |
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Declarations of Interest To receive any declarations of interest from Members relating to items to be considered on the agenda. Minutes: There were no declarations of interest reported. |
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Financial Forecast for the year ended 31st March 2021 (as at 28th February 2021) PDF 738 KB To consider a report by County Councillor Aled Davies, Portfolio Holder for Finance and Transport. Minutes: Cabinet considered the financial forecast for the year ended 31st March 2021 as at 28th February 2021. The Portfolio Holder for Finance and Transport advised that throughout February Welsh Government had provided additional grants totalling £7.8 million to support council services. Some would be carried forward and utilised in 2021/22, and some would offset expenditure in the current year. The receipt of this additional support improved the financial position to a projected surplus of £5.906 million (excluding Delegated Schools and Housing Revenue Account (HRA). As a result of the improved financial position, and as agreed by Council on 25th February 2021 an additional payment of £767,000 had been made into the Minimum Revenue Provision account and a £1.8 million Powys Recovery Fund established, to support Communities and Council Services. Also as agreed by Council any further opportunities that arise before year end, would be earmarked to support the Capital Programme and Transformation as a priority. With this in mind the following proposals were recommended for action as part of year end: • Transformation – that costs of £2.7 million this year be met from revenue and not capitalised as originally planned. This will release the capital receipts to support the Capital Programme. • To ring fence £1.5 million of the surplus for remedial works by setting up a specific reserve to fund both revenue and capital essential remedial work. The Portfolio Holder also reported that of the £12.394 million cost reductions proposals required during the year, 76% or £9.386 million had been delivered and a further 1% £158,000 are assured of delivery by Heads of Service. £2.851 million, 23% was unachieved and at risk of delivery in 2020/21, although some targets would be rolled forward into 2021/22.
The Leader and Portfolio Holder thanked the Welsh Government and UK Government for the additional financial support made available to the council. They also thanked the staff of the Finance section for their work over the past year.
RESOLVED 1. That Cabinet note the budget position and the projected full year position to the end of March 2021. 2. That the virements set out in section 7 of the report are approved.
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Capital Forecast as at 28th February 2021 PDF 788 KB To consider a report by County Councillor Aled Davies, Portfolio Holder for Finance and Transport.
Minutes: Capital considered an update on the Capital Programme. The revised working budget for the 2020/21 Capital Programme, after accounting for approved virements, was £73.69 million. Actual spend amounted to £48.27 million, representing 65% of the total budget. The report also contained a recommendation that approval of the small capital bids be delegated to the Strategic Asset Board.
RESOLVED 1. That the contents of the report is noted. 2. That Cabinet delegates the approval of the small capital bid allocation to the Strategic Asset Board.
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Delegated Decisions Taken by Portfolio Holders PDF 144 KB To note the delegated decisions taken by Portfolio Holders. Minutes: Cabinet noted details of the decisions taken by Portfolio Holders.
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Forward Work Programme PDF 427 KB To consider the Cabinet forward work programme. Minutes: Cabinet noted details of the forward work programme. |