Issue - meetings

(A)     Welcome that the net revenue budget 2020/21 forecast overspend at the end of quarter 2 has been contained at £168k; and

(B)     Endorse the revised capital budget for 2020/21 of £70.499m, of which £20.224m is estimated to be carried forward to future years.

The Executive Member for Financial Sustainability submitted a report summarising the financial monitoring for the Council 2020/21 as at 30 September 2020. He said it was a time of considerable uncertainly throughout the lockdown, with many of the Councils funding streams affected badly. He explained that as a result of Government Grant support and funding, the impact was much less than previously envisaged. It was now predicted that the net revenue budget overspend would be £168K. He added that overspends and underspends by service, were set out in the report (these figures were net of Government funding).

He summarised the position in relation to the Council’s Capital Projects of £70.499M which had been re-profiled of which £20.224M was estimated to be carried forward to future years.

There being no comments, Councillor Williamson proposed and Councillors Boylan seconded a motion supporting the recommendations in the report. On being put to the meeting and a vote taken, the motion was declared CARRIED.

RESOLVED – that (A)  that the net revenue budget 2020/21 forecast overspend at the end of quarter 2 has been contained at £168k be welcomed; and

(B)   the revised capital budget for 2020/21 of £70.499m, of which £20.224m is estimated to be carried forward to future years be endorsed.