Decision Maker: Mid Suffolk Cabinet
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
It was RESOLVED:-
1.1 That the 2019/20 financial outturn as set out in the report be noted.
1.2 That the following net transfers of £318k be approved;
b) Of the remaining balance of the General Fund surplus £294k be transferred to the Growth and Efficiency Fund and £611k from the Business Rates Equalisation reserve, as referred to in section 2.1 (c) of the report.
1.3 That the General Fund carry-forward requests totalling £164k referred to in paragraph 5.16 of the report be approved.
1.4 That the total Capital carry-forward requests referred to in paragraph 5.22 of the report totalling £18.956m be approved.
Reason for Decision: To ensure that Members are kept informed of the outturn position for both General Fund Revenue and Capital and to approve earmarked reserve transfers and carry forward requests.
Alternative Options Considered and Rejected:
1.1 The options that have been considered are;
a) Withdraw funds of £318k from the Growth and Efficiency (GEF) reserve.
b) Withdraw surplus funds of £318k from the Business Rates Equalisation reserve.
c) Transfer surplus funds of £294k to the Growth and Efficiency Fund, withdraw funds of £611k from the Business Rates Equalisation reserve and net transfers of £1k from specific earmarked reserves as detailed in 3.2(a) of the report.
d) To recommend carry forward requests for the General Fund of £164k and Capital of £18.956m.
Any Declarations of Interests Declared: None
Any Dispensation Granted: None
Publication date: 07/07/2020
Date of decision: 06/07/2020
Decided at meeting: 06/07/2020 - Mid Suffolk Cabinet
Effective from: 15/07/2020
Accompanying Documents: