Issue - meetings

Report E/20/33 outlines the financial results and budget exceptions to 31^st December 2020 (quarter three).

The Lead Executive Member for Finance and Resources presented the report which outlined the financial results and budget exceptions to 31^st December 2020.

The Lead Executive Member for Finance and Resources explained that there had currently been just under £3m in 2020/21 due to Covid-19 and that £1.2m in Covid-19 funding had been received from the Government. In respect of the full year forecast, this was currently showing a £197k deficit in the General Fund and a Housing Revenue Account (HRA) surplus of £3.9m. The Executive was informed that General Fund and HRA planned savings were currently on target against the revised budget.

The Lead Executive Member for Housing, Health and Culture informed the Executive that the surplus in the HRA was for major house repairs which were currently unable to be carried out due to Covid-19.

The Executive praised the work of the officers in distributing financial Covid-19 support grants to businesses and stated that positive feedback had been received from businesses on this.

RESOLVED:

i)             To endorse the actions of officers and note the contents of the report.

ii)            To approve the re-profiled capital programmes and Programme for Growth as set out at Appendices C and D.

REASON FOR DECISION:

To ensure that budget exceptions are brought to the attention of the Executive in order to approve remedial action where necessary.