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 458 KB
To consider the report of the Director Finance.
Additional documents:
- Appendix 1, item 123 PDF 173 KB
- Appendix 2, item 123 PDF 239 KB
- Appendix 3, item 123 PDF 122 KB
- Appendix 4 - Areas of Budgetary Risk, item 123 PDF 117 KB
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.