To consider a report by County Councillor Aled Davies, Portfolio Holder for Finance, Countryside and Transport.
The web address for the interactive July finance report is https://sway.office.com/U4WTrE7HLBNmmMc7?ref=Link
Minutes:
Cabinet considered the budget outturn report for the period ended 31st July. Cabinet was advised that the total savings required in 2019/20 was £21.692m, £10.876m of which had been achieved to date. HeadsofService had been challenged on the remaining amount and had providedassurance thatfurthersavingsof£6.851mcouldbedeliveredthisyear, but theremaining£3.965mtheyconsideredtobeunachievable. Somemitigatingactionhadbeentakenbyservices,andalternativemeansofcoveringthesavingsshortfallinthecurrentfinancialyear hadbeenput inplace. Thisresolvedthegapfor thecurrentfinancialyear but didnotremovetherequirementtopermanentlyresolvethe basebudget.
Oftheundeliveredsavings,£1.809mofthesewereexpectedtobeachievedinfullnextyear,but thereremaineda further£2.156mofsavingsthat wereconsideredunachievableona permanentbasis. The Senior Leadership Team would look at how this gap could be closed make recommendations to Cabinet within the budget monitoring report for period 5.
RESOLVED |
Reason for Decision |
That the contents of the report are noted. That the Senior Leadership Team review the projected delivery of savings and propose alternative means of addressing the shortfall. |
To monitor the council’s financial performance and ensure that spending remains within approved limits and that the 3% minimum general reserve is maintained. |
Supporting documents: