Issue - meetings

To note the revenue monitoring report.

It was not possible to circulate this report five clear days in advance of the meeting. The chair agreed to accept this item as urgent because the council regularly updates cabinet on the revenue monitoring position.  This was vitally important in the current circumstances of the Covid-19 pandemic, and its financial impact on the councils overall financial position. 

RESOLVED:

1.  That the General Fund forecast outturn position for 2020-21 (Table 1 of the report) be noted.

2.  That the Covid-19 emergency funding support received to date paragraphs 23 – 27 of the report) be noted.

3.  The Governments Covid-19 sales, fees and charges compensation scheme (paragraph 24 of the report), and that the scheme only part funds the actual losses incurred be noted.

4.  That the difference of £12.897m between the additional costs and lost income forecast in the report and the funding provided the government to date (Table 2 of the report) be noted.

5.  That it be noted that the funding shortfall does not include the costs of Covid-19 support for residents, businesses and communities already funded from reserves of £4.0m (paragraph 22 of the report),

6.  That the forecast losses on the Collection Fund, currently estimated at £16m, will be a charge to future years budgets (paragraph 22 of the report) be noted.

7.  That the other key adverse variations and budget pressures underlying the forecast outturn position be noted, notably:

·  Dedicated School Grants (DSG) High Needs in year pressure of £3.2m and accumulated deficit of £21.7m (paragraph 44 – 48 of the report)

·  Emergency tree recovery plan £1.8m.

8.  That the housing revenue account (HRA) forecast outturn position for 2020-21 (Table 3, paragraphs 78-90 of the report) be noted.

9.  That it be noted that there is currently no compensation for the HRA for additional costs or lost income arising from the pandemic.

10.  That the treasury management activity to date in 2020-21 (paragraphs 91-98 of the report) be noted.

11.  That the interdepartmental General Fund budget movements that are less than £250k as shown in Appendix A of the report be noted.