Executive Member 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 the variations to the end of September 2020. In the fourth tranche of Central Government funding the council had received £264,280.00, although it was still uncertain as to what funding the council would receive going forward and the impact this would have on future budgets.
The Chief Finance Officer advised that budgets would need to be revisited in light of the second lockdown. For the next financial year it was still unknown if the New Homes Bonus scheme would be re-introduced and if the fees and charges compensation scheme would continue. It was hoped that the council’s provisional settlement would be received earlier in December in order that the council could set a balanced budget in a timely manner.
The Leader commented that these were uncertain times and Town and Parish Councils could also look at how they support their local communities.
It was agreed to write to all Town and Parish Councils to bring attention to their legal framework regarding budgets and how they could use their funds to assist their communities. Also the Leader would write to the Districts MP’s, the Chancellor and the Local Government Association seek clarification regarding the continuation of the New Homes Bonus.
RESOLVED that the:-
(1) Updated revenue budget position be noted;
(2) Updated capital programme as shown at appendix 1 be approved; and
(3) Updated lending list as shown at appendix be noted.
(The vote was unanimous)