To consider a report of the Deputy Chief Executive (S151) presenting the Revenue and Capital Outturn report, previously considered by Cabinet on 9th July 2020
The Group had before it, and NOTED, the *Revenue and Outturn report previously presented to the Cabinet on 9th July 2020.
The Group Manager for Finance explained that this was a generic report which detailed the performance against budget. He explained that in December 2019 the budget deficit had been predicted at £252k but this had improved to an actual year end deficit of £232k which was very close to an overall budget of £10m.
He explained that the £863k utilised from the Ear Marked Reserves indicated the progress of projects and that funds had been set aside for future projects.
In response to questions asked he explained that not all of the capital projects had been completed in 2019/2020 and therefore there was a recommendation to carry forward any unused capital projects funding to future years.
He confirmed that he would provide answers to specific questions about the loss of income from the Tiverton Town centre regeneration project.
Note: *Revenue and Outturn report previously circulated and attached to the minutes