Issue - meetings

This report provides details of the County Council’s 2020/21 financial position as at Month 10 (M10) 31 January 2021 for revenue and capital budgets and the projected outlook for the financial year.

[The decisions on this item can be called in by the Resources and Performance Select Committee]

RESOLVED:

1. That the Council’s forecast revenue and capital budget positions for the year be noted.

Reason for Decision:

This report is to comply with the agreed policy of providing a monthly budget monitoring report to Cabinet for approval of any necessary actions.

[The decisions on this item can be called in by the Resources and Performance Select Committee]

The Cabinet Member for Resources and Corporate Support provided details of the County Council’s 2020/21 financial position as at Month 10 (M10) 31 January 2021 for revenue and capital budgets. As at January 2021 (M10); the council was forecasting a full-year £2.2m

underspend, an improvement of £2.4m from the previous month. The council was on track for a balanced budget at year end. The £2.2m underspend consists of a projected £3.8m overspend on CV-19 and a projected £6.0m underspend on Business as Usual (BAU). The capital forecast stands at £232.0m against a budget of £244.0m; slippage of £12.0m. The forecast slippage has increased by £6.3m from a projected underspend of £6.7m at M9.

RESOLVED:

1. That the Council’s forecast revenue and capital budget positions for the year be noted.

Reason for Decision:

This report is to comply with the agreed policy of providing a monthly budget monitoring report to Cabinet for approval of any necessary actions.

[The decisions on this item can be called in by the Resources and Performance Select Committee]