Agenda item

RESOLVED:

(1)       That the Service Director – Resources be requested to add an additional column into ‘Table 5 – COVID Financial Impact on General Fund’ relating to the heading ‘Expected to be covered by Income guarantee’. Members requested that figures should be provided in the additional column in order to show the amount covered by the Council and the amount covered by the income guarantee. This amendment to Table 5 to be provided as an Addendum to the Cabinet report.

(2)       That Officers be thanked by the Committee for their work in administering grants to those in need as a result of the coronavirus pandemic.

RECOMMENDED TO CABINET:

(1)       That the report entitled Third 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 £624k increase in net expenditure, be approved. (Noting that this net movement is expected to be covered by an increase in the Sales, Fees and Charges compensation from Government that has been applied);

(3)       That the changes to the 2021/22 General Fund budget, as identified in table 3 and paragraph 8.2, a total £17k decrease in net expenditure, be approved.

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.

NB: There was a break at 21:13 prior to the start of the next item. The Committee resumed at 21:20.

Audio Recording – 1 Hour 51 Minutes 40 Seconds

The Service Director – Resources presented the report entitled Third Quarter Revenue Monitoring 2020/2, including:

·                Directed Members to Table 6 on page 163 within the report titled General Fund Balance and provided further information;

·                Paragraph 8.4 on page 157 detailed the budgets that were requested to be carried forward in to 2021/22;

·                There were 4 key corporate ‘financial health’ indicators identified in relation to key sources of income for the Council. Table 4 showed the performance for the year;

·                All of the indicators were red as would be expected given the impacts of the pandemic, and had been reported accordingly throughout the year; and

·                As part of the Government’s economic support for Covid-19, the Council had been required to distribute a number of business grants. These are detailed in table 8 on page 164.

The following Members asked questions:

·                Councillor Sam Collins; and

·                Councillor Sam North.

In response to questions raised, the Service Director – Resources advised that:

·                In terms of the income guarantee for parking, the Council were required to fund around a third of the loss; and

·                An additional column would be added to Table 5 to show the amount covered by the Council and the amount covered by the income guarantee.

Councillor Sam North asked that a recommendation be added to thank staff for their work in administering grants to those in need as a result of the pandemic.

Councillor Kate Aspinwall proposed, Councillor Sam North seconded the recommendations and it was:

RESOLVED:

(1)       That the Service Director – Resources be requested to add an additional column into ‘Table 5 – COVID Financial Impact on General Fund’ relating to the heading ‘Expected to be covered by Income guarantee’. Members requested that figures should be provided in the additional column in order to show the amount covered by the Council and the amount covered by the income guarantee. This amendment to Table 5 to be provided as an Addendum to the Cabinet report.

(2)       That Officers be thanked by the Committee for their work in administering grants to those in need as a result of the coronavirus pandemic.

RECOMMENDED TO CABINET:

(1)       That the report entitled Third 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 £624k increase in net expenditure, be approved. (Noting that this net movement is expected to be covered by an increase in the Sales, Fees and Charges compensation from Government that has been applied);

(3)       That the changes to the 2021/22 General Fund budget, as identified in table 3 and paragraph 8.2, a total £17k decrease in net expenditure, be approved.

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.