Agenda item

Report of the Strategic Director of Finance and Customer Services

Recommendations:

1.    That the current General Fund Revenue Budget forecast of £6.2m overspend be noted.

2.    That it be noted that actions will continue to be taken to mitigate the forecast overspend.

3.    That the Capital Programme update be noted.

Consideration was given to a report which detailed the financial position as at the end of May 2020 and was based on actual costs and income for the first two months of 2020/21 and forecast for the remainder of the financial year. 

Members noted that financial performance was a key element within the assessment of the Council’s overall performance framework and was essential to achievement of the objectives within the Council’s Policy Agenda. The report was the first in a series of monitoring reports for the 2020-21 financial year which would continue to be brought forward to Cabinet on a regular basis.

As at May 2020, the Council had a forecast year-end overspend of £6.2m after taking account of the Government’s provision of Covid-19 support grant of £16.2m. Without the funding, the projected overspend would have been £22.4m on the General Fund.

Resolved:-

1.    That the current General Fund Revenue Budget forecast of £6.2m overspend be noted.

2.    That it be noted that actions will continue to be taken to mitigate the forecast overspend.

3.    That the Capital Programme update be noted.