Agenda item

Joint Report of the Corporate Director of Resources and Corporate Director of Regeneration, Economy and Growth - presented by the Finance Manager, Resources and Regeneration.

The Chairman introduced the Finance Manager, Resources and Regeneration, Ian Herberson to speak to Members in relation to the Quarter One Forecast of Revenue and Capital Outturn 2020/21 (for copy see file of minutes).

The Finance Manager noted that the previous items had spoken to the impact of the pandemic and that this report would give the financial context, noting the teams and services within the remit of the Committee had been hit harder than most.  He noted his thanks to the Corporate Director, REG and all the teams and staff that had provided regular information, in the context of how busy services were in terms of responding to the impacts of the pandemic, and monthly returns being required by Government in relation to the financial impact.

The Finance Manager referred Members to the information relating to Quarter One 2020/21 with the service reporting a forecast underspend of approximately £0.617 million, against a revised budget of £52.843 million.  He explained paragraph four of the report noted a forecast of COVID-19 related expenditure of £16.210 million, offset by COVID-19 related savings of £4.213 million with more detail being set out at paragraphs 13-18 of the report.  He noted the approximately £12 million was currently being funded corporately, either via central Government grants or corporate reserves, and therefore the COVID-19 related sums were excluded from the forecast.

As regards the Capital Programme, the Finance Manager explained that the lockdown had impacted upon the delivery of capital schemes, however, they were now picking up.  He concluded by noting paragraph 14 of the report set out a breakdown of spend by Head of Service.

The Chair thanked the Finance Manager and asked Members to note that the Council’s Head of Corporate Finance and Commercial Services, Jeff Garfoot had given a detailed report on the Council’s finances at the Corporate Overview and Scrutiny Management Board held on 29 October 2020. 

The Chair noted, however, that he had concern that a lot of issues relating to COVID-19 were uncertain and added that he felt that a fair settlement from Government was needed, to enable the Council to plan its services in relation to the challenges as mentioned by the Officers at the meeting.

Resolved:  

That the report be noted.