Agenda item

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

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

The Finance Manager referred Members to the information relating to Quarter Two 2020/21 with the service reporting a forecast underspend of approximately £1.032 million, against a revised budget of £53.449 million.  He explained paragraph four of the report noted a forecast of COVID-19 related expenditure of £20.035 million, offset by COVID-19 related savings of £5.148 million with more detail being set out from paragraph 13 of the report. 

As regards the Capital Programme, the Finance Manager explained that the lockdown had impacted upon the delivery of capital schemes, with the revised capital budget being £74.017 million with expenditure to 31 August of £22.626 million, marginally below the expected spend.  Members were informed that detailed commentary as regards the revenue and capital budgets were set out within the appendices to the report.

Resolved:  

That the report be noted.