Issue - meetings

REPORT OF THE SERVICE DIRECTOR RESOURCES

To inform Cabinet of the summary position on revenue income and expenditure forecasts for the financial year 2020/21, as at the end of the second quarter.

RESOLVED:

(1)       That the report entitled Second Quarter Revenue Monitoring 2020/21 be noted;

(2)       That the changes to the 2020/21 General Fund budget, as identified in table 3 and paragraph 8.2, a £2.036million increase in net expenditure be approved;

(3)       That the changes to the 2021/22 General Fund budget, as identified in table 3 and paragraph 8.2, a total £53k decrease in net expenditure be noted. These will be incorporated in the draft revenue budget for 2021/22.

REASONS FOR DECISIONS: Members are able to monitor, make adjustments within the overall budgetary framework and request appropriate action of Services who do not meet the budget targets set as part of the Corporate Business Planning process.

Audio recording – 1 hour 7 minutes 46 seconds

The Chair referred Members to the referral from the Finance, Audit and Risk Committee, which supported the recommendations contained in the report.

The Executive Member for Finance and IT presented the report entitled Second Quarter Revenue Monitoring 2020/21.

Councillor Ian Albert propose, Councillor Martin Stears-Handscomb seconded and it was:

RESOLVED:

(1)       That the report entitled Second Quarter Revenue Monitoring 2020/21 be noted;

(2)       That the changes to the 2020/21 General Fund budget, as identified in table 3 and paragraph 8.2, a £2.036million increase in net expenditure be approved;

(3)       That the changes to the 2021/22 General Fund budget, as identified in table 3 and paragraph 8.2, a total £53k decrease in net expenditure be noted. These will be incorporated in the draft revenue budget for 2021/22.

REASON FOR DECISIONS: Members are able to monitor, make adjustments within the overall budgetary framework and request appropriate action of Services who do not meet the budget targets set as part of the Corporate Business Planning process.