Issue - meetings

Financial Management 2020/21 to 2022/23 and Framework for Change - Issues Arising from COVID-19 - July Update

 

 

Meeting: 17/09/2020 - Council (Item 17)

17 Revenue and Capital Budget Update 2020/21 including the Financial Impact of COVID-19 on the 2020/21 Budget pdf icon PDF 233 KB

Report of the Executive Director of Corporate Resources and Customer Services

Minutes:

The Council considered the report of the Executive Director of Corporate Resources and Customer Services that advised of:

 

(1)

the current estimated financial impact of COVID-19 on the 2020/21 Budget;

 

(2)

the current forecast revenue outturn position for the Council for 2020/21;

 

(3)

the current forecast on Council Tax and Business Rates collection for 2020/21; and

 

(4)

the monitoring position of the Council’s capital programme to the end of June 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.

 

It was moved by Councillor Maher, seconded by Councillor Fairclough and

 

RESOLVED:

 

That the revised Transport Allocations, as detailed in paragraph 7.3 of the report be approved.

 

Meeting: 30/07/2020 - Cabinet (Item 23)

23 Revenue and Capital Budget Update 2020/21 including the Financial Impact of COVID-19 on the 2020/21 Budget pdf icon PDF 233 KB

Report of the Executive Director of Corporate Resources and Customer Services

Minutes:

The Cabinet considered the report of the Executive Director - Corporate Resources and Customer Services that advised of:

 

(1)

the current estimated financial impact of COVID-19 on the 2020/21 Budget;

 

(2)

the current forecast revenue outturn position for the Council for 2020/21;

 

(3)

the current forecast on Council Tax and Business Rates collection for 2020/21; and

 

(4)

the monitoring position of the Council’s capital programme to the end of June 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.

 

Stephan Van Arendsen, Executive Director - Corporate Resources and Customer Services verbally updated the Cabinet in respect of the offer of a £1m grant to support projects in Southport. Mr. Van Arendsen advised that the Southport Town Board had informed the Council that they would like to progress 2 schemes to utilise the funding, namely Southport Market Hall and a Street Lighting project.  On receipt of appropriate minutes from the Board Mr. Van Arendsen, the Council’s s151 officer would inform MHCLG of this decision and the schemes would progress through the Council’s established governance processes.

 

Decision Made:

 

That:

 

(A)

in respect of the Revenue Budget:

 

(1)

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;

 

(2)

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;

 

(3)

Authority be granted to the Leader of the Council to approve any further expenditure from the Emergency Fund following advice from the Chief Executive and s151 officer with any decisions being reported to future Cabinet meetings;

 

(4)

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;

 

(5)

the current forecast revenue outturn position for 2020/21 be noted;

(6)

the implementation of a remedial action plan to partially mitigate the forecast outturn position, and the principles to be adopted to meet the remaining forecast deficit be approved;

 

(7)

the temporary additional resources required as part of the demand management programme in respect of fostering, family finder and direct payments be approved and that this provision be reviewed at the end of Q1 in 2021/22 to confirm that the savings identified are being delivered; and

 

(8)

It be acknowledged that the forecast outturn position will continue to be reviewed to ensure a balanced  ...  view the full minutes text for item 23