Decision details

RESOLVED:-

(i)        that the Corporate Finance Performance Report for Quarter 2 (July to September 2020), as detailed in the report now submitted, be noted;

a)         Corporate Financial Performance

(ii)       that the current forecast General Fund Revenue overspend of £47.0M incorporating the ongoing impact of COVID-19 be noted;

(iii)      that the current forecast Housing Revenue Account overspend of £3.4M incorporating the ongoing impact of COVID-19 be noted;

(iv)      that the overall net impact (after all Government funding) of £15.5M be noted;

(v)       that the continuation of the moratorium on all non-essential expenditure and the suspension of non-urgent one-off investments originally approved to commence in 2020/21 be approved;

(vi)       that the write off of historic bad debts totalling £1.5M be approved;

b)         Capital Programme

(vii)     that the forecast position on the approved Capital Programme be noted;

(viii)    that the external funding position highlighted in paragraphs 4.1 be noted.

c)         Treasury Management

(ix)      that the key messages from the Council’s Treasury Management activities be noted.