Issue - meetings

Revenue and Capital Budget Monitoring, Cash Limits and Virements - April 2020 to September 2020

Meeting: 05/11/2020 - Cabinet (Item 66)

66 Revenue and Capital Budget Monitoring, Cash Limits and Virements – April 2020 to September 2020 pdf icon PDF 373 KB

This report presents the financial monitoring information for the Authority as a whole for the financial year 2020/21, using information available as at the end of September 2020.


Additional documents:


Councillor Richard Samuel introduced the report by thanking the officers on the comprehensive document.  The government’s announcements between June and September have led to expected improvements in the Council’s financial position due to grants that the government had provided.  However, the government grants have not covered 100% of Council’s extra costs, losses and income.  The Council had endured substantial income losses from Heritage Services, parking and commercial estate income, and these losses were substantial and serious and that had to be dealt with.  In addition to that, there were other pressures caused by COVID19 pandemic such as these on SEND within Children’s Services in an amount of £3.2m this year.  That money would not be drawn from the Council’s Revenue Budget but from the school’s grants.  Some of the original savings would not be delivered because of COVID19.

The capital programme has slipped from £113.7m to £93.7m, which was an expected outcome.

Councillor Samuel highlighted pressures on Council Tax and business rates collections funds due to individuals and businesses inability to pay in the way they used to.  Some of those losses would be covered by past surpluses in the collection funds and some would be covered elsewhere.  In terms of the reserves, the Council may not have to withdraw from reserves as was the suggested in the last monitoring report. 

Councillor Samuel took the meeting through the rest of the report, as presented, and added that it was encouraging to see that the strong action that the Council took to stabilise its finances, along with financial assistance from the government, have led to an improved financial position.


Councillor Richard Samuel moved the recommendations.


Councillor Dine Romero seconded the motion by thanking the officers and Councillor Samuel on the comprehensive report and on the work that had been done to ensure that the revenue was forecasted to be on budget, and on the position of capital, cash limits and reserves.


Councillor Paul Crossley welcomed the report and also thanked the officers for the amazing work they have done in responding to the crisis.  Councillor Crossley highlighted a few initiatives within his portfolio such as engagement of people with library services which were predominantly web based.  Councillor Crossley also thanked the Heritage Services staff for responding well to challenges during COVID 19 pandemic and to all other services and teams within his portfolio.


Councillor Tim Ball also welcomed the report and thanked all Council staff for responding well during this crisis whilst working in very difficult and stressful circumstances.


Councillor Richard Samuel added that the Council would need to continue to keep sharp focus on its finances, and not become complacent over the next six months.



RESOLVED (unanimously) that the Cabinet agreed:


1)  To note the 2020/21 revenue budget position (as at the end of September 2020).

2)  To approve the revenue virement listed for approval in Appendix 3(i) and to note those virements listed for information only.

3)  To note the capital year-end forecast detailed in paragraph 3.36  ...  view the full minutes text for item 66