Issue - meetings

RECOMMENDED:

1)     That the savings set out in Appendix 1 to the report be approved

2)     That the revised revenue budget for 2020/21 set out in Appendix 2 to the report be approved

Reason for Decision

To align budgets in response to the COVID pandemic and ensure effective budget monitoring can take place during 2020/21

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The Assistant Director – Resources presented her report which explained that following the last monitoring report update to Cabinet,  officers were asked to carry out a more detailed review of their budgets in order to identify plans to reduce the potential overspend in 2020/21 arising from the COVID-19 pandemic and report back to the September Cabinet meeting with recommendations for action. The report set out a proposal for revisions to the budget for 2020/21 which was the outcome of that work along with a number of proposed actions to further close the estimated budget gap.

The revised budget would also reflect the additional costs incurred by the Council in the response phase to the COVID-19 pandemic and the additional funding that had been received from central government.

The revised budget provided a funded budget for 2020/21 that incorporated budgets to meet the additional costs of COVID-19 to enable effective budget monitoring.  There was still an expectation that a draw on the General Fund Reserve balance would be needed to fund the budget which was based on a prudent level at this time.

The report set out the council’s progress towards Financial Plan priorities for 2020/21 in the period 1 April to 31 July 2020.

In presenting the report the Assistant Director stressed that the report and recommendations did not take into account the effect of a second wave of covid restrictions and their knock on effects.

Councillor Nockolds stressed the need to support the vulnerable members of the community, and the need to use the reserves for this purpose.

RECOMMENDED:

1)    That the savings set out in Appendix 1 to the report be approved

2)    That the revised revenue budget for 2020/21 set out in Appendix 2 to the report be approved

Reason for Decision

To align budgets in response to the COVID pandemic and ensure effective budget monitoring can take place during 2020/21