Venue: Chamber - Quadrant, The Silverlink North, Cobalt Business Park, North Tyneside, NE27 0BY. View directions
Contact: Yvonne Harrison Email: email@example.com
Note: (Due to Covid precautions anyone wishing to attend should first notify the contact officer)
To Receive any 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 and/or non-registerable interests that have been granted to you in respect of any matters appearing on the agenda.
Please complete the Declarations of Interests card available at the meeting and return it to the Democratic Services Officer before leaving the meeting.
No declarations of interest or dispensations were reported.
To consider a 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.
Cabinet received a report which set out details of 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.
The end of the financial year 2019/20 had seen the beginning of the Covid-19 Pandemic and the impact had continued throughout 2020/21. Cabinet and all Members had been kept up to date in terms of the response and approach to recovery the Authority had implemented throughout the various stages of the pandemic and what that meant for essential services being maintained for the most vulnerable residents of the borough. The Authority had been required to provide a sustained and varied response to the pandemic, with all services impacted one way or another. There had been periods when restrictions meant a range of services had to be suspended or limited, such as the leisure and culture offer and as a result there had been a significant financial impact on the Authority arising from additional costs and lost income in 2020/21. There had been sustained support to the Social Care Sector for both Adults and Children’s and this was expected to continue into 2021/22. The Authority had been responsible for acting as agent for a number of grants to support the businesses in the borough and again this had continued into 2021/22.
A range of financial interventions had been introduced by the Government; these were set out in Annex 1 to the report The Authority had received its share of the Government’s Local Support Grant of £16.370m. £0.733m of this had been allocated to additional costs and income lost in March 2020, meaning £15.636m had been available to support Council services in 2020/21. Of this, £13.466m had been allocated to support revenue activities and a further £0.485m allocated to capital. The remaining £1.685m had been carried forward to support the identified on-going impact of Covid-19 into 2021/22.
Local Authorities had also been compensated for losses incurred against their sales, fees and charges budgets. North Tyneside Council had received £5.757m from this grant to support services and this had been fully allocated. This represented 71.25% of the fees lost, the balance being borne by the Authority.
In addition to receiving support for council services, the Authority had received grants to support the businesses in the borough. £66.072m had been received and £54.731m had been paid across to businesses. The remaining balance had been transferred to reserves and would be paid out during the early stages of 2021/22.
£11.811m had been allocated to the Authority to support residents, including financial support for the most vulnerable and also to allow the Authority to put in place measures to allow residents to continue to enjoy the coastline, town centers and the many attractions throughout the borough, when restrictions allowed. £4.616m had been spent during 2020/21, with £7.195m carried forward to 2021/22. Of the funding carried forward £5.302m related to Contain Outbreak ... view the full minutes text for item CAB23/21
Date and Time of Next Meeting
Monday 2 August 2021 at 6.00pm.
6.00pm on Monday 2 August 2021.