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Decision details
Budget Monitoring Outturn Report P3
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
To provide an update to Cabinet for Period 4.
Decision:
Cabinet noted:
- Risks associated with the forecast outturn and the long-term financial impact on the Council as a result of COVID-19 pandemic;
- The £13.9m COVID 19 funding gap is indicative and will be amended to reflect the actual level of government funding received and local / national changes required in responding to potential local outbreaks;
- The risk to the assumed level of sales, fees and charges grant to offset income losses, subject to further work and final technical guidance from MHCLG which could lead to a material deterioration in the sum receivable.
- 4. The estimated Collection fund deficit of £32.9m impacting in future years Appendix A, Section 3.5.
- A risk of non COVID-19 related overspend on General fund services, an overall forecast overspend of £6.9m for 20/21 at Period 3, representing 1.7% of the approved budget and that it is expected that the forecast overspend will be managed through management actions / mitigations through the rest of the financial year.
- Forecasts underspend of £1.0m with regard to the Housing Revenue Account.
- A forecast in-year deficit of £3.3m and a total £6.2m carried forward deficit in the ring fenced Dedicated Schools Account (DSG);
- A forecast overspend of £0.5m in Public Health mitigated by drawing down from the Public Health reserve;
- A forecast overspend of £0.9m in Public Health mitigated by drawing down from the PFI reserve.
- A forecast £58.1m underspend against the approved Capital Programme, which requires budget re-profiling at the end of P4.
Cabinet approved:
- The incorporation of £2.640m into the Council’s Capital Programme from Pothole Grant as detailed in Appendix B, Section 2.9.
Report author: Denise Murray
Publication date: 01/09/2020
Date of decision: 01/09/2020
Decided at meeting: 01/09/2020 - Cabinet
Effective from: 12/09/2020
Accompanying Documents:
- Decision pathway Report Template PDF 437 KB
- P03 Appendix A - Revenue Budget Monitoring PDF 460 KB
- P03 Appendix A1 - People PDF 520 KB
- P03 Appendix A2 - Resources PDF 649 KB
- P03 Appendix A3 - Growth and Regeneration PDF 578 KB
- P03 Appendix A4 - HRA PDF 472 KB
- P03 Appendix A5 - DSG PDF 293 KB
- P03 Appendix A6 - Public Health PDF 310 KB
- P03 Appendix B - Capital Budget Monitoring Report PDF 357 KB