To consider a report of the Executive Member for Finance and Governance and the Corporate Director, Finance and Systems.

The Executive Member for Finance and Governance drew attention to key features of 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 discussion a question was raised, in the light of the pandemic’s impact on businesses, of the potential implications for the Council’s revenues deriving from Business Rates. Members were advised that no material impacts were expected on the current year’s estimates; but that the impact on the following year could be more significant. It was envisaged that there would be a national budget in March, and the nature of support offered for businesses could affect the local position.

          RESOLVED -

(1)      That the updated positions on the revenue budget, collection fund and capital programme be noted.

(2)      That the movements in earmarked reserves be noted.