Decision details

Revenue and Capital Budget Monitoring 2020/21 - Financial and Covid Update Quarter 2

Decision Maker: Cabinet

Decision status: For Determination

Is Key decision?: No

Is subject to call in?: No

Decision:

It was RESOLVED that the report be approved and the following be noted:

 

a)    the projected net effect of in-year efficiencies (£0.497m) and Covid-19 pressures (£2.355m) and Covid Government funding (£1.614m) resulting in an expected net revenue deficit for the year of £0.244m;

 

b)    a projected £3.017m net surplus on Business Rates as a result of additional S31 reliefs be transferred to the Organisation Stabilisation Reserve to offset the expected Collection Fund deficit in later years;

 

c)    the £0.723m receipts be transferred to reserves as follows - £0.523m to Organisation Stabilisation and £0.2m to the Development Corporation Reserve;

 

d)    the capital underspend of £23.8m, of which £18.465m be carried forward: £17.965m to 2021/22 Capital Programme and £500k to 2022/23 Capital Programme;

 

e)    the projected Special Expenses position with a projected deficit of £0.082m for the year be financed by a loan from the Council as agreed by the West Bridgford CIL and Special Expenses Group; and

 

f)     the six-month trial to engage Waste Investigations Support and Enforcement to deliver enforcement of environmental crimes (following on from Communities Scrutiny Group discussions).

 

 

 

 

Report author: Peter Linfield

Publication date: 11/11/2020

Date of decision: 10/11/2020

Decided at meeting: 10/11/2020 - Cabinet

Accompanying Documents: