Agenda item
Financial Monitoring for the period to end of July 2020 and COVID-19 Budget matters
- Meeting of Council, Wednesday, 16th September, 2020 2.00 pm (Item 33.)
- View the background to item 33.
To consider the report of the Cabinet Member for Finance and Income Generation detailing the revenue and capital financial monitoring for the period to the end of July 2020 and COVID-19 Budget matters.
Minutes:
Report of the Cabinet Member for Finance and Income Generation detailing the financial monitoring for the period to the end of July 2020 and COVID-19 Budget matters.
RESOLVED:
General Revenue Fund:
i) Noted the forecast outturn position as outlined in this report, including for business as usual and COVID-19 costs.
ii) Approved addressing the budget shortfall as outlined in paragraphs 8 to 16 and table 1 of Appendix 3. This means using £9.6M of corporate budgets, a £2.7M underspend at period 4, after applying £4.16M from the Social Care demand reserve to eliminate the Children & Learning overspend and £1.5M of in-year savings.
Capital Programme
iii) Noted the revised General Fund and HRA capital programme as outlined in this report.
iv) Approved the delays to capital scheme works and the application of new funds other than borrowing to support the capital programme as outlined in paragraphs 19 to 20 of Appendix 3 and annexe 3.2.
v) Approved the proposed revised General Fund capital programme to 2024/25 and its financing as shown in annex 2.5 of Appendix 2.
vi) Approved the proposed revised HRA capital programme to 2024/25 and its financing as shown in annex 2.5 of Appendix 2.
NOTE – FOR THE SUBSTANTIVE RESOLUTION: Councillors Barnes-Andrews, Mrs Blatchford, Bogle, Bunday, Chaloner, Coombs, Cooper, Fielker, Hammond, Kataria, Kaur, Keogh, Leggett, Margetts, McEwing, Mintoff, Mitchell, Noon, Paffey, Payne, Renyard, Rayment, Savage, Shields, Spicer, Taggart, Whitbread and Windle.
NOTE – ABSTAINED THE SUBSTANTIVE RESOLUTION: Councillors J Baillie, P Baillie, Bell, G Galton, S Galton, Guthrie, Fitzhenry, Hannides, B. Harris, L. Harris, Harwood, Houghton, Laurent, Prior, Streets, Vaughan and White.
Supporting documents:
- Financial Monitor for the period to end of July 2020 and COVID-19 Budget matters, item 33. PDF 315 KB
- Appendix 1 - revenue monitor for the period to end of July 2020, item 33. PDF 346 KB
- Annexe 1.1 General Fund forecast for period to end of July 2020, item 33. PDF 308 KB
- Annexe 1.2 Treasury Management, item 33. PDF 187 KB
- Annexe 1.3 Key Financial Risks, item 33. PDF 421 KB
- Annexe 1.4 Health Indicators, item 33. PDF 192 KB
- Annexe 1.5 Housing Revenue Account Forecast, item 33. PDF 24 KB
- Annexe 1.6 Collection Fund Forecast, item 33. PDF 14 KB
- Appendix 2 Capital Monitor for period to end of July 2020 and COVID-19 Budget matters, item 33. PDF 159 KB
- Annexe 2.1 Programme Changes, item 33. PDF 9 KB
- Annexe 2.2 HRA Major forecast variance, item 33. PDF 11 KB
- Annexe 2.3 General Fund - Slippages and Rephasing of budget, item 33. PDF 18 KB
- Annexe 2.4 Capital Resouces, item 33. PDF 10 KB
- Annexe 2.5 Summary Overall Capital Programme and funding, item 33. PDF 118 KB
- Appendix 3 Financial Impact of COVID-19, item 33. PDF 312 KB
- Annexe 3.1 COVID-19 Summary, item 33. PDF 233 KB
- Annexe 3.2 capital programme changes, item 33. PDF 240 KB
- Annexe 3.3 Government return (as at end of July) on financial impact from COVID-19, item 33. PDF 180 KB