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Budget Monitoring Outturn Report P3
Meeting: 01/09/2020 - Cabinet (Item 18.)
18. Budget Monitoring Outturn Report P3 PDF 437 KB
Additional documents:
- P03 Appendix A - Revenue Budget Monitoring, item 18. PDF 460 KB
- P03 Appendix A1 - People, item 18. PDF 520 KB
- P03 Appendix A2 - Resources, item 18. PDF 649 KB
- P03 Appendix A3 - Growth and Regeneration, item 18. PDF 578 KB
- P03 Appendix A4 - HRA, item 18. PDF 472 KB
- P03 Appendix A5 - DSG, item 18. PDF 293 KB
- P03 Appendix A6 - Public Health, item 18. PDF 310 KB
- P03 Appendix B - Capital Budget Monitoring Report, item 18. PDF 357 KB
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.