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

The Director of Finance and Systems introduced a report of the Executive Member for Finance and Governance and the Corporate Director of Finance and Systems which provided an update on the latest financial performance against the budget for 2020/21. This 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. The Director of Finance and Systems drew Members’ attention to key features of the report, including the currently estimated outturn of a £2.301 million underspend.

In discussion, Members raised queries on the report’s content, principally in relation to: the implications of the extent of the Council’s reliance on the dividend from the airport; the status of the GMCA redistribution of Growth Pilot monies; the possibility of further Covid-related budget support from central Government; and the proportion of net budgetary pressures attributable to the Covid-19 pandemic.

            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.