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Budget Monitoring Outturn Report P6

 

 

03/11/2020 - Budget Monitoring Outturn Report P6

Cabinet Approved:

  1. The incorporation of the fourth tranche of un-ringfenced COIVD emergency funding from the government to the 2020/21 budget (£11.1m),as outlined in Appendix A, Section 3.4.3.
  2. The incorporation of Round 2 extension of the Adult Social Care Infection Control Fund (£3.7m) to the 2020/21 budget as outlined in Appendix A, Section 3.4.4.
  3. The incorporation of the Surge enforcement fund (£0.3m) to the 2020/21 budget as outlined in Appendix A, Section 3.4.5.
  4. The incorporation of the MHCLG award of £249,099 for the Supported Housing Oversight Pilot as outlined in Appendix A Section 3.4.6 and Appendix A8.
  5. The re-profiling of the Capital Programme as outlined in Appendix B.

 

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 £3.8m COVID 19 funding gap is indicative and that the residual mitigations previously identified will be held in abeyance for uncertainties arising under the government’s new 3-teir system and implications of local measures required in 2020/21 with any residual amount carried forward to 2021/21 offsetting future year COVID financial pressures.
  3. The estimated Collection fund deficit of £25.0m impacting in future years Appendix A, Section 3.5.
  4. A risk of non COVID-19 related overspend on General fund services, an overall forecast overspend of £5.3m for 20/21 at Period 6, representing 1.3% 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.
  5. Forecasts underspend of £3.5m with regard to the Housing Revenue Account.
  6. A forecast in-year deficit of £8.1m and a total £11m carried forward deficit in the ring fenced Dedicated Schools Account (DSG).
  7. In line with the scheme of delegation the emergency decision record with regards to the distribution of Round 2 (phase 1 ) Infection Control fund (Appendix A7)
  8. A forecast £92.3m underspend against the approved Capital Programme, which requires budget re-profiling at the end of P6.