Issue - meetings

Budget Monitoring Report to 30 September 2020 - Carolin Martlew - 10.30 am

Meeting: 16/11/2020 - Cabinet (Item 282)

282 Budget Monitoring Report to 30 September 2020 pdf icon PDF 133 KB

The Budget Monitoring report sets out the Capital, Housing Revenue and General Fund Revenue budget performance to the end of September 2020

Additional documents:

Decision:

The Cabinet

 

            RESOLVED – That

 

(1)  The report in Appendix 1 be noted; and

 

(2)  Note the actions taken to mitigate the Council’s net expenditure due to the Covid-19 pandemic.

Minutes:

            The Cabinet Member for Corporate Support, Councillor Oppler, introduced this report confirming that it set out the Capital, Housing Revenue and General Fund Revenue budget performance to the end of September 2020. He confirmed that the report presented some slightly better news than originally expected as the Council had now received £480k from income compensation scheme and £499k from the fourth tranche of Covid-19 grant funding. The Council had also made internal budget savings which would be made available to resource re-allocation. However, it was important to note that the Council still needed to remain cautious as it moved forward with the Pandemic as loss of income remained its greatest risk, with car parking being the most significant issue as well as the financial support to the Leisure Contractor as a result of lockdown restrictions.

 

            The Financial Services Manager confirmed that the audit of the Council’s financial statements had been completed and was ready to report into the next meeting of the Audit & Governance Committee taking place on 19 November 2020.  It was positive that no changes to the outturn report considered by that Committee had been required and so this put the Council’s budget for next year on a sound footing.

 

            Following some discussion,

 

          The Cabinet

 

                        RESOLVED – That

 

(1)          The report at Appendix 1 be noted; and

 

(2)          The actions taken to mitigate the Council’s net expenditure due to the Covid-19 pandemic be noted.

 

The Cabinet confirmed its decision as per Decision Notice C/029/16112020, a copy of which is attached to the signed copy of the Minutes.