Issue - meetings

A report concerning the Council’s revenue budget and capital programme as at the end of September 2020 (month 6) was presented.

A £400,000 overspend against the £10.6 million general fund revenue budget was projected. This represented an improvement of £100,000 from the previous month, which was largely due to a corresponding return from the Government’s Covid-19 income compensation scheme.  The overspend comprised additional costs / loss of income related to Covid-19 (£1.2 million) offset by an £800,000 underspend on ‘business as usual’ activities. The report cautioned against the uncertainty surrounding the 2020/21 forecast and advised that, if the position did not improve, reserves would have to be drawn upon to cover the overspend.

The revised capital programme had been reduced by £104.7 million to £15.4 million to reflect forecast expenditure and to provide a stable baseline.

Cashflow shortfalls in the collection of council tax and business rates were projected to impact in Q4 of 2020/21. The impact is currently being worked through.

The Committee was also informed that the Acting Chief Executive had exercised urgency powers (granted by Standing Order 35) to enable the Council to administer the Government’s Additional (Covid-19) Restrictions Grant Scheme. A report concerning this matter would be submitted to the Committee’s next meeting on the 16^th December 2020.

During the debate, reference was made to the Committee’s resolution on 22^nd September 2020 that, “a budget and project plan be produced immediately for Planning Policy Committee spending and that it is updated and notified monthly to the Planning Policy Committee and added to that Committee’s agenda on a regular basis.” It was confirmed that the required information would be included within the finance report to be submitted to the Planning Policy Committee’s January 2021 meeting and would be updated monthly for that Committee. 

            R E S O L V E D – that the Council’s financial position for revenue and

            capital be noted.