Issue - meetings
Budget Monitoring Report - Quarter 1
Meeting: 20/08/2020 - Cabinet (Item 15)
15 Medium Term Financial Plan: Budget Monitoring Report - April-June 2020 (Quarter 1) 
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Report of Councillor P Parkin, Portfolio Holder for Finance.
Decision:
RESOLVED – That Cabinet noted the budget monitoring position outlined in the report and detailed in Appendices 1 to 4 to the report.
REASONS FOR DECISION – To keep Cabinet informed of the financial position of the Council following the first quarter’s budget monitoring exercise for the General Fund, the Housing Revenue Account, Capital Programme and Treasury management activity taking account of the Council’s response to the impact of the Covid-19 pandemic.
ALTERNATIVE OPTIONS CONSIDERED BUT REJECTED – No other options were considered as the report only provided information about the monitoring position against the Council’s previously agreed budget. It did not include any options which required Cabinet to decide upon.
Please note that this was not a Key Decision and so can be implemented with immediate effect by officers.
Minutes:
Cabinet considered a report of Councillor P Parkin, Portfolio Holder for Finance, which updated Members on the financial position of the Council following the first quarter’s budget monitoring exercise for the General Fund, the Housing Revenue Account and the Capital Programme.
The report stated that the Covid-19 pandemic had a detrimental impact on the Council’s financial position and steps had been put in place to mitigate this, including the production of an emergency budget. The Council had started to enter the recovery phase and many services had begun to operate in some capacity again and the priority was now to provide some stability within the budget.
RESOLVED – That Cabinet noted the budget monitoring position outlined in the report and detailed in Appendices 1 to 4 to the report.
REASONS FOR DECISION – To keep Cabinet informed of the financial position of the Council following the first quarter’s budget monitoring exercise for the General Fund, the Housing Revenue Account, Capital Programme and Treasury management activity taking account of the Council’s response to the impact of the Covid-19 pandemic.
ALTERNATIVE OPTIONS CONSIDERED BUT REJECTED – No other options were considered as the report only provided information about the monitoring position against the Council’s previously agreed budget. It did not include any options which required Cabinet to decide upon.