Issue - meetings

To receive a report from the Chief Finance Officer presenting details of the Council’s projected financial performance for 2020/21.

Executive Councillor: J Gray.

The Cabinet has considered and commented upon the financial performance at the end of December 2020 and the register of reviews of Commercial Investment Strategy propositions as detailed in Appendices 1 and 2 of the report.

A report by the Chief Finance officer was submitted (a copy of which is appended in the Minute Book) presenting details of the Council’s financial performance to the end of December 2020.

The Executive Councillor for Finance and Resources drew the Cabinet’s attention to the highlights within the report, specifically the forecast revenue outturn overspend of £0.799m and capital outturn underspend of £11.890m. Reference was also made to the Commercial Investment Strategy and the benefits this was achieving for the Council, namely the protection of services for the residents of Huntingdonshire.

Having welcomed the report and in noting the views of the Overview and Scrutiny Panel (Performance and Growth), it was

RESOLVED

that the Cabinet note the Council’s financial performance at the end of December 2020 and the register of reviews of Commercial Investment Strategy propositions as detailed in Appendices 1 and 2 of the report now submitted.

The Financial Performance Report 2020/21, Quarter 3 is to be presented to the Panel.

With the aid of a report by the Chief Finance Officer (a copy of which is appended in the Minute Book) the Financial Performance Report 2020/21, Quarter 3 was presented to the Panel. Members were apprised of the headline statistics including the projected revenue overspend of £800k. Following a query from Councillor Wakeford on the £100k worth of savings in relation to unspent salaries, it was confirmed that the posts the salaries related to, especially those deemed necessary to priority areas of work, had not been left vacant solely for financial reasons.