Decision details

Final Financial Outturn Report for 2019/20

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

To update Cabinet with the final financial position for 2019/20.

Decisions:

 

 

 

 

“This report covers the last financial year and the period when the authority first began helping those affected by the Covid-19 pandemic so, as a result, does not begin to reflect the millions of pounds subsequently spent in that direction.

 

However, it shows that despite the rising costs of care for older people and providing support to vulnerable children and young adults, the council has still been able to invest millions of pounds in more school places, highways and economic regeneration.”

 

Philip Atkins OBE, Leader of the Council

 

“At a time when local authorities face great pressures, good management and investment of our resources means the county council has been able to balance the books, invest in Staffordshire’s future and keep some money for emergencies.

 

The longer-term implications for this authority, particularly around the rising costs of adult care and children’s services, remain a serious concern. We continue to work with Government to find answers to putting local government funding on a more sustainable footing.”

 

Mike Sutherland, Cabinet Member for Finance

 

Reasons for the Decision – To consider the final financial outturn position of the county council including delivery of the Medium Term Financial Strategy.

 

Decision – (a) That the final outturn position be noted.

 

(b) That the unspent Contingency sum of £4m be added to the Investment Fund previously established to fund commercial or other investments.

 

(c) That the capital financing arrangements, as set out in Appendix 3 to the report, including the capitalisation of transformational revenue expenditure, be approved.

Report author: Nicola Lycett

Publication date: 18/06/2020

Date of decision: 17/06/2020

Decided at meeting: 17/06/2020 - Cabinet

Effective from: 24/06/2020

Accompanying Documents: