Cabinet Member for Finance and Resources
“Coping with the Covid-19 pandemic continues to put extra pressures on our finances, but we continue to manage them effectively and target our resources where they are needed most.
As a county council we will maintain our sound management, despite the challenges, to keep us in as strong a position as possible and ensure that we provide good value for money for our communities. In addition to supporting those who are most in need, we are looking to invest in reigniting our economy through investment in skills, training and supporting businesses to adjust to a post-pandemic world.”
Alan White, Leader of the Council
“We were in a stable position financially before the pandemic hit but like all councils its impact has been significant. We have adapted and targeted our services, with many of our employees taking on additional roles and hours.
Since the 2020/21 budget was set the Covid-19 pandemic struck, needing a combined response from the public sector to support health initiatives and the economy. We have had additional funds and grants worth over £110m from central government to help deal with the effects of the pandemic. These have been used to help reduce the additional pressures of continuing to provide vital services while protecting our residents and businesses.
At the end of 2020/21, the financial outturn position is a saving of £1.9m, which is 0.4 per cent of our overall budget – a budget of half a billion pounds – and this has been achieved during a global pandemic. The capital programme shows expenditure of £132m as we have continued to make significant investment in Staffordshire, again achieved during a pandemic year.”
Ian Parry, Cabinet Member for Finance and Resources
Reasons for the Decision – To consider the 2020/21 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 request for £591,000 to be carried forward from the Health and Care underspend for future commitments be approved.
(c) That the capital financing arrangements, as set out in Appendix 3 to the report, including the capitalisation of transformational revenue expenditure, be approved.