Decision details

Reason for the decision

Although this report does not seek formal approval from Cabinet for the reported outturn, the performance for the previous year is an important part of the financial management process as it marks the start of the medium-term financial planning (MTFP) and budget strategy process for 2022/23. In addition to reporting outturn, with the financial performance for the year materially complete, it is important for Cabinet to review the risks the organisation now faces and the areas where it wishes to make strategic investments and to repurpose and prioritise its reserves to facilitate these aims.

Budget Implications

Financial implications are set out within the detail of the report to cabinet on 22 June 2021.

Decision

(a)       That the draft, unaudited outturn position for 2020/21, be noted;

(b)       That the reserves strategy statement and repurposing of reserves set out in this paper be approved.

There was no conflict of interest in the decision

Decision

(a)       That the draft, unaudited outturn position for 2020/21, be noted;

(b)       That the reserves strategy statement and repurposing of reserves set out in this paper be approved.