To receive a financial update report on the implications of Covid 19.

The Corporate Director, Finance and Systems submitted a report, introduced by the Executive Member for Finance and Investment, which set out the high level financial implications of the COVID-19 virus and its potential impact on the 2020/21 and later years’ budgets. The report covered the nature and application of interim support received from the Government, and the key impacts on the current budget arising from both additional expenditure and reduced income. The current estimate was for a net shortfall of £25 million in the current year and at least £20 million in 2021/2.

An opportunity was provided for Members to raise questions on the report’s content. These centred on the balance between emergency support for social care as opposed to other service areas; processes for ensuring that local businesses were aware of the support available; potential staffing implications for the Council’s functions; longer-term issues associated with support provided to the Trafford Leisure company; and analysis of income reduction in relation to car parking charges. On the latter, it was indicated that further detail would be provided outside the meeting; and all Members were invited to assist with identifying additional parties who might be eligible for support but not yet in receipt of it.

It was noted that the Council was intending to lobby Government further to seek additional support in relation to the estimated shortfalls; and Members’ thanks were accorded in particular to the Finance and Business Growth teams for their recent input.

            RESOLVED – That the content of the report be noted.