Issue - meetings

To consider a report of the Portfolio Holder for Finance, Commercial & Capital Strategy.

Decision

Executive Decision Notice - Finance report - Outturn 2020/21 - Dorset Council

Reason for decision

At its Annual Meeting, Council decided to continue to meet virtually for all non-executive committees. The Leader of the Council also decided that Cabinet should continue to meet virtually until social distancing requirements had been removed. Therefore, the Portfolio Holder for Customer and Community Services has made this decision taking into account the views expressed by the wider cabinet membership.

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.

The Portfolio Holder for Finance, Commercial & Capital Strategy presented a report on the outturn position for 2020/21.

The Portfolio Holder also set out his executive decision based on the report’s recommendations. Cabinet give their “minded to” view and confirmed that their support for his decision.

Decision of the Portfolio Holder for Finance, Commercial & Capital Strategy

(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.

Executive Decision - Finance report - Outturn 2020/21 - Dorset Council

Reason for decision

At its Annual Meeting, Council decided to continue to meet virtually for all non-executive committees. The Leader of the Council also decided that Cabinet should continue to meet virtually until social distancing requirements had been removed. Therefore, the Portfolio Holder for Customer and Community Services has made this decision taking into account the views expressed by the wider cabinet membership.

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.