Issue - meetings

General Fund Capital Monitoring

Meeting: 06/10/2020 - Executive (Item 99)

99 Overview of General Fund Revenue Budget 2020/21 – Quarter 1 pdf icon PDF 438 KB

To consider the report of the Director Finance.

 

Additional documents:

Decision:

Agreed:

 

RECOMMENDED that Council notes and approves (where applicable):-

 

(1)  the General Fund forecast financial position for the 2020/21 financial year;

(2)  the self-financing supplementary budgets as detailed in paragraph 8.7 of the report;

(3)  the outstanding Sundry Debt position as at June 2020; and

(4)  the creditors’ payments performance.

 

Reason for Decision: As set out in the report.

 

 

Minutes:

 

The Executive received the report on the overall financial position of the General Fund Revenue Budgets for the 2020/21 financial year after three months.

 

The Director Finance advised Members that, following approval of the Emergency Budget at the July Council meeting, the first quarter showed an £850,000 improvement against the budget as a result of car parking income being ahead of projection and the release of £200,000 as the third tranche of Government emergency funding support in response to the Covid-19 crisis. He advised however, that the former had levelled off and that the Government deferral of a reduced settlement for Local Government for this financial year may or may not be carried forward for another year. A decision on this and the announcement on Business Rates and an anticipated cessation of New Homes Bonus scheme was awaited.

 

RECOMMENDED that Council notes and approves (where applicable):-

 

(1)  the General Fund forecast financial position for the 2020/21 financial year;

(2)  the self-financing supplementary budgets as detailed in paragraph 8.7 of the report;

(3)  the outstanding Sundry Debt position as at June 2020; and

(4)  the creditors’ payments performance.