RESOLVED:

1. That Cabinet considered the outturn position on Capital and approve the Slippage into 2022/23 and other adjustments detailed in Appendix 2C, 2C1 and Section 7 of the report

2. That Cabinet approved the establishment of a renewals and repairs fund of circa £80k for 10 years required as part of the grant conditions for the Lawn Tennis Association Capital Grant of £708,650

3. That Cabinet considered the outturn position on revenue and approve the proposed appropriation of the £2.392m favourable variance to reserves

The Cabinet Member for Finance and Corporate Services presented the report noting tht the accounts had closed with a favourable variance of £2.3million which had been transfeered to the Strategic priortiies reserve fund, plans for which would be presented soon. The Cabinet Member thanked officers for their rigorous and accurate financial monitoring and advised that this would continue to be monitored.

In response to questions, the Cabinet Member advised that the Council had not taken on any new loans in a number of decades and had paid back half of its historic debt earlier in the year.

RESOLVED:

1. That Cabinet considered the outturn position on Capital and approve the Slippage into 2022/23 and other adjustments detailed in Appendix 2C, 2C1 and Section 7 of the report

2. That Cabinet approved the establishment of a renewals and repairs fund of circa £80k for 10 years required as part of the grant conditions for the Lawn Tennis Association Capital Grant of £708,650

3. That Cabinet considered the outturn position on revenue and approve the proposed appropriation of the £2.392m favourable variance to reserves