Issue - meetings

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]

As at February 2021the Council was forecasting a full-year £3.3m underspend, an improvement of £1.1m from the previous month. The £3.3m underspend consists of a projected £2.3m overspend on Covid-19 and a projected £5.6m underspend on Business as Usual. The Cabinet Member highlighted some of the budgetary achievements made throughout the year including council tax being kept to a minimum and reserves increasing. As of 9 April, the council had produced a balance budget for the year. Huge thanks was given to the finance team for their hard work throughout the year.  

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]