Issue - meetings

To consider the report of the Cabinet Member for Performance and Resources seeking Members to note year-end forecasts and the financial pressures on the Council during the 2^nd Quarter ended 30^th September 2020.

RESOLVED it be noted that:

(1)  the forecast year end position is currently for a decrease to the Council’s General Fund balance of £99k against a budgeted decrease of £49k

(2)  the uncertainty surrounding the exact levels of grant income to be received from Government will affect the eventual financial outcome for the year

(3)  the details of specific budgetary issues identified by officers and the actions being taken to address those issues

(4)  the current level of Capital expenditure as shown in Appendix 2 of the report.

Cabinet considered the report of the Cabinet Member for Performance and Resources that sought Members to note year-end forecasts and the financial pressures on the Council during the 2^nd Quarter ended 30th September 2020.

The Cabinet Member for Performance and Resources advised Members that the report did not include the impact of the second COVID-19 lockdown.  She summarised the overall position and that of her own portfolio.  The Cabinet Member for Environment commended the work of the Section 151 Officer and finance team.  He stated that most of the areas overbudget were due to COVID-19 and would he hoped receive reimbursement from central government.  The Cabinet Member for Culture and Leisure informed Members that all staff in his portfolio were mindful of current financial pressures and were actively seeking commercial opportunities that would lay the groundwork for better in future.

RESOLVED it be noted that:

(1)            the forecast year end position is currently for a decrease to the Council’s General Fund balance of £99k against a budgeted decrease of £49k

(2)            the uncertainty surrounding the exact levels of grant income to be received from Government will affect the eventual financial outcome for the year

(3)            the details of specific budgetary issues identified by officers and the actions being taken to address those issues

(4)            the current level of Capital expenditure as shown in Appendix 2 of the report.