To consider a report of the Executive Member for Finance and Investment and the Corporate Director of Finance and Systems.
The Executive Member for Finance and Investment and the Corporate Director of Finance and Systems submitted a report which informed Members of the current 2020/21 forecast outturn figures relating to both Revenue and Capital budgets. It also summarised the latest forecast position for Council Tax and Business Rates within the Collection Fund. In introducing the report the Executive Member noted a minor increase to the net revenue budget in respect of the national financial settlement in relation to Public Health. He also drew attention to the improved position in respect of the projected outturn, whilst emphasising that, in view of current uncertainties, no such projection could currently be regarded as definitive. It was noted that a response to a Member’s question would be given outside the meeting.
(1) That Council be recommended to approve an increase to the net Revenue Budget of £261k to £175.52m as detailed in paragraph 2 of the report.
(2) That the updated positions on the revenue budget, collection fund and capital programme be noted.