Issue - meetings

Report of the Executive Director of Corporate Resources and Customer Services.

The Cabinet considered the report of the Executive Director for Corporate Resources and Customer Services and were 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 January 2021:

·       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.

Decisions 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, 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 this report be recognised, and it be agreed subsequent reports provide updates and where appropriate remedial actions plans as appropriate;

(3)       the current forecast revenue outturn position for 2020/21, be noted;

(4)       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;

(5)       the Government Workforce Capacity Fund grant that has been received to help local authorities to boost staffing levels and which will be utilised in accordance with central government guidance, be noted; 

(6)       the transfer of any unspent Council resources from the Council Tax Exceptional Hardship Fund and the Emergency Limited Assistance Scheme into Earmarked Reserves to help support more residents in 2021/22. These transfers will be approved by the Section 151 officer, in consultation with the Chief Executive where applicable, in line with the Council’s Financial Procedure Rules, be noted.

(B)          in respect of the Capital Programme:

(1)    the spending profiles across financial years for the approved capital programme (paragraph 6.1.1) be noted;

(2)       the latest capital expenditure position as at 31 January 2021 of £14.572m (paragraph 6.2.1) with the latest full year forecast of £27.237m (paragraph 6.3.1) be noted;

(3)       the explanations of variances to project budgets (paragraph 6.2.3) be noted;

(4)       approval of a supplementary capital estimate for £0.788m for the Bootle and Southport Town hall retrofit energy saving works scheme, to be funded from a Public Sector Decarbonisation Fund (PSDF) Section 31 grant allocated by the Government.  (paragraph 6.4) be approved;

(5)       the Executive Director Corporate Resources and Customer Services will manage capital resources to ensure the capital programme remains fully funded and that capital funding arrangements secure the maximum financial benefit to the Council (paragraph 6.7.3), be noted.

Reasons for the Decisions:

To ensure Cabinet are informed of the forecast outturn position for the 2020/21 Revenue Budget as at the end of January 2021, including delivery of a  ...  view the full minutes text for item 112