Decision details

Report of the Cabinet Member for Finance and Income Generation detailing the financial monitoring for the period to the end of September, 2020. 

General Revenue Fund

  i)  To note the forecast outturn position for business as usual activities is a £3.12M underspend after applying corporate funds, as outlined in paragraph 4 and in paragraph 1 of appendix 1. 

  ii)  To ote the performance of treasury management, and financial outlook in paragraphs 10 to 14 of appendix 1.

  iii)  To note the Key Financial Risk Register as detailed in paragraph 17 of appendix 1.

  iv)  To note the performance against the financial health indicators detailed in paragraphs 21 and 22 of appendix 1.

  v)  To note the performance outlined in the Collection Fund Statement detailed in paragraphs 26 to 30 of appendix 1.

  vi)  To note the financial position arising from COVID-19, as outlined in paragraphs 4 to 8 of Appendix 1.

Housing Revenue Account

vii)  To note the forecast outturn position on business as usual activities is an overspend of £0.27M as outlined in paragraph 5 and paragraphs 23 and 24 of appendix 1.

viii)  To note the financial position arising from COVID-19, as outlined in paragraph 25 of Appendix 1.

Capital Programme

ix)  To note the revised General Fund Capital Programme, which totals £657.05M as detailed in paragraph 1 of appendix 2.

x)  To Note the HRA Capital Programme remains at £210.98M as detailed in paragraph 1 of appendix 2.

xi)  To note that the overall forecast position for 2020/21 at quarter 2 is £180.79M, resulting in a potential underspend of £7.37M, as detailed in paragraphs 5 and 6 of appendix 2.

xii)  To note that the capital programme remains fully funded up to 2024/25 based on the latest forecast of available resources although the forecast can be subject to change; most notably with regard to the value and timing of anticipated capital receipts and the use of prudent assumptions of future government grants to be received.

xiii)  To note that £1.42M has been added to the programme with relevant approvals. These changes are detailed in annex 2.1 to appendix 2.

xiv)  To Approve slippage and rephasing as detailed in paragraph 3 and 4 of appendix 2. Noting that the movement has zero net movement over the 5 year programme.

xv)  To approve the addition and spend of £0.80M in 2020/21 to the Customer & Organisation programme. As detailed in annex 2.6 to appendix 2.

xvi)  To approve the addition and spend of £0.53M in 2020/21 to the Green City & Place programme. As detailed in annex 2.6 to appendix 2.

xvii)  To approve the addition and spend of £0.94M in 2021/22 to the Stronger Communities programme. As detailed in annex 2.6 to appendix 2.

xviii)  To approve the reduction of £1.60M in 2020/21 to the Children & Learning programme. As detailed in annex 2.6 to appendix 2.

xix)  To note changes to the capital programme arising from COVID-19 as detailed in paragraphs 7 and 8 of appendix 2.

To ensure that Cabinet fulfils its responsibilities for the overall financial management of the Council’s resources.

Not applicable.