(Joint report of Chief Executive, Director of Finance and Transformation, Leader of the Council and Cabinet Member for Finance, Innovation and Property)

In accordance with the Borough Council’s Financial Procedure Rules, consideration was given to information detailing actual Revenue and Capital Outturn for the year ended 31 March 2021. Subsequent adjustments made in light of the Outturn position were also considered.

Despite a positive Outturn position the Borough Council continued to have a difficult financial outlook and the importance of identifying savings to meet the savings and transformation contribution of £100,000 for 2021/22 was emphasised.

The Cabinet resolved that:

(1)         the Revenue and Capital Outturn for the year 2021/21 be noted and endorsed;

(2)         the action taken following a review of specific earmarked reserves, set out in paragraph 1.2.3, be noted and endorsed;

(3)         the Treasury Management and Investment Strategy Review 2021/21 (as set out at Annex 4 of the report) be noted and endorsed; and

(4)         further consideration be given to identify how the savings and transformation contribution of £100,000 for the current financial year was to be achieved.