Decision details

That Executive:

1.    Notes the carry forwards set out in paragraph 1.58 to 1.60 of the report, which are made in line with the Council's Financial Regulations;

2.    Recommends to the County Council that the proposals in paragraph 1.61 to 1.65, relating to the treatment of underspends, be approved subject to the following amendments:

a)    The proposed transfer to the Financial Volatility Reserve set out in paragraph 1.64 is reduced by £10m to £2.2m;

b)    A corresponding £10m increase to the Development Fund, for use on highways initiatives.

3.    Notes the transfers to and from reserves carried out in 2020/21 as set out in Table F;

4.    Notes the financial performance in 2020/21 as set out in Table A (Key Financial Performance Measures), Table B (Revenue Budget Final Outturn), Table C (Net Capital Programme Summary Outturn), Appendix N (Prudential Indicators).