Issue - meetings

Overview of the General Fund Budget

Meeting: 01/12/2020 - Executive (Item 123)

123 Overview of General Fund Revenue Budget 2020/21 – Quarter 2 pdf icon PDF 458 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 financial year;

(2)  the supplementary budget as detailed in paragraph 8.10 of the report;

(3)  the outstanding Sundry Debt position as at September 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 Budget for the 2020/21 financial year after six months.

 

The Director Finance made particular reference to:-

 

·         no significant change to the overall position although services had gone from an underspend of £500,000 to an overspend of £620,000 because of the impact of the second lockdown on Council income, notably car park income. However, much would be offset by the Government’s Sales, Fees and Charges Compensation Scheme;

·         despite the Government’s announcement of a pay freeze for public sector staff, Local Government pay was devolved to Local Government employers who could still negotiate an increase with the Unions;

·         the one year Comprehensive Spending Review limiting Council Tax increases to less than 2%, although it was hoped that Districts would be able to levy a £5 rise;

·         extension of the Sales, Fees and Charges Compensation Scheme by three months to June 2021 with pressures on Local Government to be kept under review;

·         £800 million support for irrecoverable business rates and Council Tax this financial year; and

·         the New Homes Bonus scheme to continue for another year.

 

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

 

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

(2)  the supplementary budget as detailed in paragraph 8.10 of the report presented to the meeting;

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

(4)  the creditors’ payments performance.