Agenda item

Corporate Finance Performance - Quarter ending 31 December 2020 (Cab.10.3.2021/11)

Decision:

RESOLVED:-

 

1.    CORPORATE FINANCE PERFORMANCE

 

(a)      The current forecast General Fund Revenue overspend of £52.2M incorporating the ongoing impact of COVID-19 be noted;

(b)      The current forecast Housing Revenue Account overspend of £0.8M incorporating the ongoing impact of COVID-19 be noted;

(c)       The overall net impact (after all Government funding) of £11.9M be noted;

(d)      The financial plan / earmarking of resources to fully mitigate the current forecast deficit and any further pandemic related spend that may arise in 21/22 as set out at paragraphs 3.11 to 3.17 of the report be agreed;

 

(e)      The continuation of the moratorium on all non-essential expenditure and the suspension of non-urgent one-off investments originally approved to commence in 20/21 be approved; and

 

(f)        The write off of historic bad debts totalling £1.0M be approved.

 

 

2.    CAPITAL PROGRAMME PERFORMANCE

 

(a)      The forecast position on the approved Capital Programme be noted; and

(b)      The external funding position highlighted in paragraphs 4.1 of the report be noted.

 

3.    TREASURY MANAGEMENT

 

(a)         The key messages from the Council’s Treasury Management activities be noted.

Minutes:

RESOLVED:-

 

1.    CORPORATE FINANCE PERFORMANCE

 

(a)      The current forecast General Fund Revenue overspend of £52.2M incorporating the ongoing impact of COVID-19 be noted;

(b)      The current forecast Housing Revenue Account overspend of £0.8M incorporating the ongoing impact of COVID-19 be noted;

(c)       The overall net impact (after all Government funding) of £11.9M be noted;

(d)      The financial plan / earmarking of resources to fully mitigate the current forecast deficit and any further pandemic related spend that may arise in 21/22 as set out at paragraphs 3.11 to 3.17 of the report be agreed;

 

(e)      The continuation of the moratorium on all non-essential expenditure and the suspension of non-urgent one-off investments originally approved to commence in 20/21 be approved; and

 

(f)        The write off of historic bad debts totalling £1.0M be approved.

 

 

2.    CAPITAL PROGRAMME PERFORMANCE

 

(a)      The forecast position on the approved Capital Programme be noted; and

(b)      The external funding position highlighted in paragraphs 4.1 of the report be noted.

 

3.    TREASURY MANAGEMENT

 

(a)         The key messages from the Council’s Treasury Management activities be noted.

Supporting documents: