Issue - meetings

Report of Councillor P Parkin, Portfolio Holder for Finance

RESOLVED

That Cabinet noted the budget monitoring position outlined in the report and detailed in its appendices.

REASONS FOR DECISION

To summarise for Cabinet the financial position of the Council following the third quarter’s (2020-21) budget monitoring exercise for the General Fund, the Housing Revenue Account, Capital Programme and Treasury Management activity. This budget monitoring exercise took into account the Council’s response to the impact of the Covid-19 pandemic.

OTHER OPTIONS CONSIDERED AND REJECTED

No other options were considered. The report provided monitoring information for Members on the financial position against the Council’s previously approved budget.

Please note that this was not a Key Decision and so can be implemented with immediate effect by officers

The report to Cabinet updated Members on the Council’s General Fund, the Housing Revenue Account and the Capital Programme for the third quarter of the 2020-21 financial year. The report also provided an update on the Council’s Treasury Management and in particular, the loans, repayments and investments which had been made. 

Members discussed the report. They considered the impact of the Coronavirus (Covid-19) outbreak on the Council’s budget. Cabinet was informed about the loss of fees and charges received by Leisure Services, as well as the reduced income from MOT testing and commercial waste. Members also heard about the measures which had been put in place to help minimise the financial impact of lost income.

In particular, Cabinet reflected on the extensive financial assistance received from the Government and which had reduced the financial impact of the outbreak. Cabinet welcomed this assistance and noted how it had enabled the Council to continue delivering services to local communities, as well as to support businesses and employment, in the District.

RESOLVED - That Cabinet noted the budget monitoring position outlined in the report and detailed in its appendices.

REASONS FOR DECISION - To summarise for Cabinet the financial position of the Council following the third quarter’s (2020-21) budget monitoring exercise for the General Fund, the Housing Revenue Account, Capital Programme and Treasury Management activity. This budget monitoring exercise took into account the Council’s response to the impact of the Covid-19 pandemic.

OTHER OPTIONS CONSIDERED AND REJECTED - No other options were considered. The report provided monitoring information for Members on the financial position against the Council’s previously approved budget.