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 438 KB
To consider the report of the Director Finance.
Additional documents:
- Appendix 1, item 99 PDF 172 KB
- Appendix 2, item 99 PDF 226 KB
- Appendix 3, item 99 PDF 124 KB
- Appendix 4, item 99 PDF 117 KB
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.