Decision Maker: Cabinet
Decision status: Information Only
Is Key decision?: Yes
Is subject to call in?: No
To provide an update to Cabinet for Periods 4
- Risks associated with the forecast
outturn and the long-term financial impact on the Council as a
result of COVID-19 pandemic.
- The £15.7m 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 estimated Collection fund
deficit of £25.0m 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 £7.1m for 20/21 at Period 5, representing 1.8% 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 £1.6m
with regard to the Housing Revenue Account.
- A forecast in-year deficit of
£8.3m and a total £11.1m carried forward deficit in the
ring fenced Dedicated Schools Account (DSG) and the significant
deterioration in the forecast comparing to P3.
- A forecast
overspend of £1.4m in Public Health mitigated by
drawing down from the Public Health and PFI reserves.
- A forecast £66.8m underspend
against the approved Capital Programme, which requires budget
re-profiling at the end of P5.
Report author: Michael Pilcher
Publication date: 06/10/2020
Date of decision: 06/10/2020
Decided at meeting: 06/10/2020 - Cabinet