Agenda item

*RESOLVED –

That it be recommended to Full Council that:

1.    The budget monitoring position for general fund revenue budget financial performance in the first two months of the financial year 2020/21 and the implications for the general fund revenue budget for 2020/21 and the new medium-term financial plan, as detailed in Sections 4 and 5 of the officer’s report, be noted.

2.    The changes to the medium-term financial plan, as outlined in Sections 4 and 5 of the officer’s report, be approved.

3.    The updated capital programme, as outlined in Section 6 of the officer’s report, be approved.

4.    The arrangements for financing of the capital programme, as outlined in paragraph 6.3 of the officer’s report, be approved.

5.    The budget monitoring position for the first two months of the financial year 2020/21 and the implications for the on Housing Revenue Account budget for 2020/21s, as detailed in Section 7 of the officer’s report, be noted.

REASON FOR DECISION

To actively manage the Council’s finances in the current financial year and forecast forward the emerging budget position to future financial years.

The Interim Chief Finance Officer submitted a report to update members on the council’s budget position for 2020/21, covering the General Fund Revenue Budget, General Fund Capital Programme and Housing Revenue Account.

An updated General Fund Revenue Budget forecast informed by the month 2 outturn for the financial year 2020/21 was included within section 4 of the officer’s report. This showed an anticipated in-year deficit for 2020/21 of £3.246m as a consequence of the Covid-19 pandemic.

Detailed information on the medium-term outlook was provided in section 5 of the officer’s report.

*RESOLVED –

That it be recommended to Full Council that:

1.    The budget monitoring position for general fund revenue budget financial performance in the first two months of the financial year 2020/21 and the implications for the general fund revenue budget for 2020/21 and the new medium-term financial plan, as detailed in Sections 4 and 5 of the officer’s report, be noted.

2.    The changes to the medium-term financial plan, as outlined in Sections 4 and 5 of the officer’s report, be approved.

3.    The updated capital programme, as outlined in Section 6 of the officer’s report, be approved.

4.    The arrangements for financing of the capital programme, as outlined in paragraph 6.3 of the officer’s report, be approved.

5.    The budget monitoring position for the first two months of the financial year 2020/21 and the implications for the Housing Revenue Account budget for 2020/21, as detailed in Section 7 of the officer’s report, be noted.

REASON FOR DECISIONS

To actively manage the Council’s finances in the current financial year and forecast forward the emerging budget position to future financial years.