Agenda and minutes

Finance Sub Committee - Tuesday, 14th September, 2021 6.00 pm

Venue: 0.02 Chamber - Quadrant, The Silverlink North, Cobalt Business Park, North Tyneside, NE27 0BY. View directions

Items
No. Item

F9/21

Appointment of Substitute Members

To be notified of the appointment of any Substitute Members.

Minutes:

There was no substitute members appointed.

F10/21

Declarations of Interest and Notification of any Dispensations Granted

You are invited to declare any registerable and/or non-registerable interests in matters appearing on the agenda, and the nature of that interest.

 

You are also invited to disclose any dispensation in relation to any registerable interests that have been granted to you in respect of any matters appearing on the agenda.

 

You are also requested to complete the Declarations of Interests card available at the meeting and return it to the Democratic Services Officer before leaving the meeting.

 

 

Minutes:

There were no Declarations of Interest reported.

F11/21

Minutes pdf icon PDF 223 KB

To confirm the minutes of the meeting held on the 13 July 2021.

Minutes:

Resolved that the minutes of the meeting 13 July 2021 be confirmed.

 

F12/21

2020/21 Provisional Finance Outturn Report pdf icon PDF 81 KB

To consider the Cabinet report on the Provisional Outturn for the General Fund, Schools Finance, Housing Revenue Account, the financial and delivery aspects of the Investment Plan and the delivery of the Treasury Management Strategy for the financial year 2020/21.

Additional documents:

Minutes:

The Head of Resources presented the 2020/21 Provisional Finance Outturn report that had considered by Cabinet on 15 July 2021.

 

A Member sought and clarification was given to the position of the Local Support Top-up and Local restrictions Support ‘Closed’ grants detailed under section 5 – Impact of Covid-19 had been spent.

 

A Member sought and clarification was given that the amount of £94k in addition to the £1M transferred to the change reserve was a sundry amount in relation to insurance.

 

Agreed that 2020/21 Provisional Finance Outturn Report be noted

 

F13/21

2021/22 Financial Management Report to 31 May 2021 pdf icon PDF 81 KB

To receive the Financial Management report for the current financial year that reflected the financial position as at 31 May 2021.

Additional documents:

Minutes:

The Principal Accountant (Business Partner) presented the 2021/22 Financial Management report to 31 May 2021 that had been considered by Cabinet at its meeting 2 August 2021.

 

The report was the first monitoring to the 2021/22 financial position and provided the first indication of the potential revenue and capital position of the Authority on 31 March 2022.

 

It was stated that significant financial support to residents and businesses had been passed through the Authority’s books in 2020/21 with further support was available for 2021/22. The current grants available amounted to £23.232m to provide direct support for businesses (£11.400m), residents (£8.704m), care homes (£1.739m) and schools (£1.389m); as at the end of May, only £0.581m remained uncommitted, but it was anticipated that the full amounts would be spent by year end.

 

The Authority had addition £10.418m of grant funding available to support services (£7.261m of Local Authority Support Grant and £3.157m service specific grants). The total impact on services as a result of Covid-19 was forecast to be £14.421m, which left a pressure of £4.003m.

 

Agreed that the 2021/22 Financial Management report to 31 May 2021 be noted.

F14/21

Exclusion Resolution

The Sub-Committee is requested to pass the following resolution:

 

That under Section 100A(4) of the Local Government Act 1972 (as amended) and having applied a public interest test as defined in Part 2 of Schedule 12A of the Act, the press and public be excluded from the meeting for the following items of business on the grounds that they involve the likely disclosure of exempt information as defined in Paragraph 3 of Part 1 of Schedule 12A to the Act.

 

Minutes:

Resolved that under Section 100A(4) of the Local Government Act 1972 (as amended) and having applied a public interest test as defined in Part 2 of Schedule 12A of the Act, the press and public be excluded from the meeting for the following items of business on the grounds that they involve the likely disclosure of exempt information as defined in Paragraph 3 of Part 1 of Schedule 12A to the Act.

F15/21

Business and Technical Partnerships Risks

To consider the latest monitoring update on risks rated as red contained within the Strategic and Operational Risk Registers of the Business and Technical Partnerships.

 

Additional documents:

Minutes:

The sub-committee considered a report that detailed the monitoring on the risks rated high (red) within the Strategic and Operational Risk Registers of the Business and Technical Partnerships with Equans (formerly known as Engie) and Capita.

 

Agreed that the Strategic and Operational Risk Registers of each partnership be noted.