Decision details

To provide an update to Cabinet for Period 4.

Cabinet noted:

1. Risks associated with the forecast outturn and the long-term financial impact on the Council as a result of COVID-19 pandemic;
2. 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;
3. 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. 4. The estimated Collection fund deficit of £32.9m impacting in future years Appendix A, Section 3.5.
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.
6. Forecasts underspend of £1.0m with regard to the Housing Revenue Account.
7. A forecast in-year deficit of £3.3m and a total £6.2m carried forward deficit in the ring fenced Dedicated Schools Account (DSG);
8. A forecast overspend of £0.5m in Public Health mitigated by drawing down from the Public Health reserve;
9. A forecast overspend of £0.9m in Public Health mitigated by drawing down from the PFI reserve.
10. A forecast £58.1m underspend against the approved Capital Programme, which requires budget re-profiling at the end of P4.

Cabinet approved:

11. The incorporation of £2.640m into the Council’s Capital Programme from Pothole Grant as detailed in Appendix B, Section 2.9.