Cabinet, at its meeting on 2 October 2020, will consider the report of the interim head of finance on changes to the 2020/21 budgets to reflect the financial impact of the Coronavirus pandemic, and other matters, on the council.
The report, which Cabinet will consider on 2 October 2020, is attached.
Cabinet’s recommendations will be circulated to all councillors.
Additional documents:
Minutes:
Council considered Cabinet’s recommendations, made at its meeting on 2 October 2020, on changes to the 2020/21 budgets to reflect the financial impact of the Coronavirus pandemic, and other matters, on the council.
The majority of councillors supported Cabinet’s recommendations. Views were expressed, that whilst recognising the challenges facing the council at an unprecedented time, the report lacked detail and included costs not directly related to Covid-19.
RESOLVED: to
(a) agree that the net revenue expenditure budget for 2020/21 be increased to £15.835 million, with the increase to be funded from revenue reserves; and
(b) agree the additions to the capital programme to be funded from capital receipts, as detailed in Appendix 2 of the interim head of finance’s report to Cabinet on 2 October 2020.
To consider the interim head of finance’s report.
Additional documents:
Minutes:
Cabinet considered the interim head of finance’s report on the 2020/21 budget. The report recommended changes to 2020/21 budget to reflect the financial impact of the Covid-19 pandemic and other matters on the council.
The Cabinet member for finance reported that for many years there had not been a need to review the budget mid-year, but the impact of Covid-19 had reduced income (such as car parking) and increased expenditure (on support for vulnerable residents, local communities and businesses). The additional cost to the council, after the government’s grant support, was £0.791 million, which would need to be funded from the council’s reserves. It was possible that if the Covid-19 pandemic continued, there might be a need for further in-year budget changes.
Scrutiny Committee had reviewed the report and supported the proposals.
Cabinet supported the proposal to recommend Council to use reserves to fund the gap; this would also protect the council’s services. This meant the council had met the government’s requirements under Covid-19 without full funding. Cabinet thanked the finance team for their work on this.
RECOMMENDED to Council on 7 October 2020: to
(a) agree that the net revenue expenditure budget for 2020/21 be increased to £15.835 million, with the increase to be funded from revenue reserves; and
(b) agree the additions to the capital programme to be funded from capital receipts, as detailed in Appendix 2 of the interim head of finance’s report to Cabinet on 2 October 2020.
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