Issue - meetings

That (A) The net revenue budget forecast overspend of £159k in 2020/21 be noted (table 1); and

(B) The revised capital budget for 2020/21 is £64.323m, of which £27.401m is estimated to be carried forward to future years be noted (paragraph 5.1.1);

The Executive Member for Financial Sustainability submitted a report on the Quarterly Corporate Budget Monitor which gave an update of the council’s finances at the end of December 2020. The net revenue budget was predicted to have a year-end overspend of £150k which, in light of the extraordinary circumstances experienced over the year, should be viewed in a positive light. He gave credit to the diligence of the finance team. The headline figure masked a considerable loss of income, especially within Operations and the fall in car parking income. The government had provided grants of £1.8 million but this did not cover the full amount so the council have had to make up the difference. Within the capital spend, £31 million had been brought forward from last year making the total £64 million and this was a reflection of the progress of capital projects such as Grange Paddocks. The capital programme was reviewed regularly and £27 million would be carried forward into next year. Referring to paragraph 6 of the report, Councillor Williamson said all efforts had been made to bring in all debt money but the council must take a realistic stance on old debts that are deemed uncollectable. Officers would identify old debts to be written off and they would be presented to the Executive for sign off.

Councillors Buckmaster and Pope said they supported the position on debtors and thought it was a sensible approach.

Councillor Williamson proposed and Councillor Cutting 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) The net revenue budget forecast overspend of £159k in 2020/21 be noted (table 1); and

(B) The revised capital budget for 2020/21 is £64.323m, of which £27.401m is estimated to be carried forward to future years be noted (paragraph 5.1.1).