Agenda item

Cabinet approved:

1. The incorporation of COVID 19 response funding and Infection control totalling £20.4m into the 2020/21 budget as outlined in Appendix A, Section 3.5.2 and Section 3.5.4;
2. Of the £20.4m above, £3m associated with Track and Trace/ Local outbreak to be retained in an earmarked reserve to be utilised in line with the Local Outbreak Management Plan;
3. The incorporation of £99.3m funding received by the Council and temporarily held for the provision of Business Support Grant Funding to local businesses;
4. The £12.7m mitigating actions proposed against the financial impact of the coronavirus for 2020/21. Appendix A, Section 3.5.6;
5. The creation of a central COVID reserve and the transfer to/ from at the end of the financial year to cover the actual increase of net expenditure in 2020/21 which will remove the requirement for supplementary estimates where new corresponding income is available in this reserve.

Cabinet noted:

6. Risks to forecast outturn and long-term financial impact on the Council as a result of COVID-19 pandemic;
7. The £12.7m COVID 19 funding gap calculated under (Appendix A, Table 6) is indicative, and may be amended reflecting the actual level of government funding to be confirmed and local / national changes to respond as required and agreed;
8. The estimated Collection fund deficit and potential mitigation in future years Appendix A, Section 3.4;
9. A risk of non COVID-19 related overspend on General fund services, an overall forecast overspend of £8.7m for 20/21 at Period 2, representing 2.2% of the approved budget and that at this point of the financial year it is expected that the forecast overspend will be managed through management actions / mitigations through the rest of the financial year;
10. A forecasted balanced position with regard to the Housing Revenue Account;
11. A forecasted balanced position for the Dedicated Schools Grant (DSG);
12. A forecasted balanced forecast position for Public health;
13. A forecast £41.5m underspend against the approved Capital Programme, which requires budget re-profiling at the end of Q1;
14. A revised MTFP will be bought back to Cabinet in the autumn followed by new Business and Service plans with new Budget proposition for 2021-22 and beyond;
15. The decisions taken under emergency / urgent payments. Appendix C:
    1. The WOE Small Business Grant Discretionary Fund. Appendix C (i);
    2. The WOE Small Business Grant Discretionary Fund Cohort 2. Appendix C (ii);
    3. Officer Executive decision for Payment Tranche 1, 2, 3 & 4 – totalling £1. 420m;
    4. Additional payments of £0.440m made for Education Vouchers as set out in Appendix C(iii);
    5. Additional payments of £4.756m to be made to care providers as set out in Appendix C(iv, v &vi).