38 Revenue and Capital Budget Update 2020/21 including the Financial Impact of COVID-19 on the 2020/21 Budget 
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Report of the Executive Director of Corporate
Resources and Customer Services
Minutes:
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The Cabinet considered the
report of the Executive Director - Corporate Resources and Customer
Services that advised of:
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(1)
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the current estimated financial
impact of COVID-19 on the 2020/21 Budget;
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(2)
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the current forecast revenue
outturn position for the Council for 2020/21;
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(3)
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the current forecast on Council
Tax and Business Rates collection for 2020/21; and
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(4)
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the monitoring position of the
Council’s capital programme to the end of July 2020 relating
to:
- the forecast
expenditure to year end;
- variations against
the approved budgets and an explanation of those variations for
consideration by Members;
- updates to spending
profiles and proposed amendments to capital budgets necessary to
ensure the efficient delivery of capital projects are also
presented for approval.
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The Cabinet Member for
Regulation, Compliance and Corporate Services, Councillor Lappin
extended her appreciation to all staff concerned who have worked
hard to protect the residents of Sefton.
Both the Leader of the Council,
Councillor Maher and Councillor Lappin
highlighted the importance of continuing to lobby the Government
regarding the funding that was promised to Local Councils to
support the ongoing extra costs of the Covid-19
pandemic.
Decision Made:
That:
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(A)
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in respect of the Revenue
Budget:
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(1)
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the current
estimated impact of COVID-19 on the 2020/21 Budget together with
the key issues that will influence the final position; and that
further government guidance is awaited on the additional support
that will be provided to the Council which will inform the
Council’s strategy for delivering financial sustainability be
noted;
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(2)
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the financial
risks associated with the delivery of the 2020/21 revenue budget
and the material variations that are to be expected to the current
estimates contained in the report be recognised, and it be agreed
that subsequent reports provide updates and where appropriate
remedial action plans as appropriate;
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(3)
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the government
grant funding that has been received and that has been used to
support the response to the pandemic and which has been distributed
in accordance with central government guidance be
noted;
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(4)
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the current
forecast revenue outturn position for 2020/21 be noted;
and
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(5)
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It be acknowledged that the
forecast outturn position will continue to be reviewed to ensure a
balanced forecast outturn position and financial sustainability can
be achieved; and
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(B)
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in respect of the Capital
Budget:
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(1)
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the spending profiles across
financial years for the approved Capital Programme (paragraph 6.1
of the report) be noted;
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(2)
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the latest capital expenditure
position as at 31 July 2020 of £3.869m (paragraph 6.2.1 of
the report) with the latest full year forecast of £35.930m
(paragraph 6.3.1 of the report) be noted;
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(3)
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the explanations of variances
to project budgets (paragraph 6.2.3 of the report) be
noted;
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(4)
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It be noted that capital
resources will be managed by the Executive Director - Corporate
Resources and Customer Services to ensure the capital programme
remains fully funded and that capital funding arrangements secure
the maximum financial benefit to the Council (paragraph 6.4 of the
report); and
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(5)
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That in relation to Grant
Funding the offer ...
view the full minutes text for item 38
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