Issue - meetings

To consider the report of the Director Finance.

Agreed:

RECOMMENDED that Council approve (where applicable): -

(1)   the net transfer of £23,901,227 to Earmarked Reserves as detailed in paragraph 8.11 of the report presented to the meeting;

(2)   the supplementary budgets of £5,602,710 and budget transfers as detailed in paragraph 8.13 of the report presented to the meeting;

(3)   the Earmarked Reserves at 31 March 2021;

(4)   the Council Tax account and collection rate;

(5)   the outstanding sundry debt, aged debt analysis and debt write-off figures;

(6)   the creditors payments performance; and

(7)   the overall financial position of the Council, the General Fund working balance at 31 March 2021 of £4,696,280.

Reason for Decision: As set out in the report.

The Executive received the report on the overall financial position of the General Fund Revenue Budget for the 2020/21 financial year. The report further sought approval for the General Fund working balance, a number of supplementary budgets and the creation of new earmarked reserves.

The Deputy Chief Finance Officer made particular reference to:-

·         an overall net transfer to Earmarked Reserves of £23.9 million with reserves significantly higher than most years most notably due to the setting aside of £17.4 million in respect of business rates;

·         the decisive action taken by the Council in July 2020 in passing an Emergency Budget along with additional funding and compensation schemes provided by the Government in response to the Covid-19 Pandemic, had enabled the Council to set aside one-off amounts of:-

·         £4 million to protect the Council against income volatility during 2021/22;

·         £1 million to address the Council’s Net Zero ambitions; and

·         £1 million to support the Council as a client of Exeter City Living to help bring forward sites for housing developments.

Councillor Vizard attended the meeting and spoke on this item having given notice under Standing Order No 44.

Councillor Vizard referred to the concerns of residents in respect of the fencing off of a part of Bull Meadow Park as a result of South West Water seeking to transfer its responsibility for the maintenance of the culvert in the Park.

The Director Net Zero Exeter and City Management confirmed that South West Water (SWW) were seeking to divest their responsibilities of certain public surface water sewers on to landowners in the city, the one running through the Park being one of those in dispute with the Council. The Council has robustly defended its position by providing evidence to show that the culvert was a public surface water sewer paid for by public money and constructed under the Public Health Act. Negotiations with SWW were progressing in respect of a scheme to abandon the section of a poor condition culvert in the Park to enable the whole of the Park to be accessible to the public again. Pricing details were awaited from South West Water with a 50% contribution being offered by the Council.

RECOMMENDED that Council notes and approves (where applicable):-

(1)        the net transfer of £23,901,227 to Earmarked Reserves as detailed in paragraph 8.11 of the report;

(2)        the supplementary budgets of £5,602,710 and budget transfers as detailed in paragraph 8.13 of the report;

(3)        the Earmarked Reserves at 31 March 2021;

(4)        the Council Tax account and collection rate; 

(5)        the outstanding sundry debt, aged debt analysis and debt write-off figures;

(6)        the creditors payment performance; and

(7)        the overall financial position of the Council, the General Fund working balance at 31 March 2021 of £4,696,280.