Issue - meetings

Council Financial position

Meeting: 08/09/2020 - Executive (Item 49)

49 Budget Monitoring - Revenue and Capital, Treasury Management Lending List pdf icon PDF 310 KB

Additional documents:


The Portfolio Holder for Corporate Resources presented the report to update Members on the principal areas where there were likely to be departures from the 2020/21 budget and progress with the capital programme and funding. He brought Members attention to budget gap for 2020/21 and that whilst there would be support from Central Government and savings had been identified there was still savings of £2 million to be delivered in year. He advised of an amendment to the recommendation (1) to read ‘updated budgetary position be noted’.


The Chief Finance Officer outlined the measure of packages to support local government and the Council including a scheme to help fund income losses from sales and fees and charges which allowed the Council to claim 75% of losses if the loss from the income stream had been greater than 5%. The Council would suffer the first 5% loss and Government would fund 75% of the remaining 95%.


RESOLVED that the:-


(1)           updated budgetary position be noted;


(2)           updated  capital programme as shown at appendix 1 be approved; and


(3)           updated lending list as shown at appendix 2 be noted.


(The vote was unanimous)