Decision details

To receive an update on the Financial Position for the Financial Year 2020-21

Cabinet Member for Finance and Change, Cllr Lynden Stowe, gave an update on the year-end forecasts for the County Council’s Revenue and Capital Budgets 2020/21.

Having considered all of the information, Cabinet noted the report and,

RESOLVED

1. Note the forecast revenue year end position based on actual expenditure

as at the end of August 2020 and September 2020 (Period 6) forecasts

for the 2020/21 financial year including Covid-19 forecast is an

overspend of £7.649 million. The forecast excluding Covid-19 is an

overspend £4.115 million.

2. Note the forecast capital year end position as at the end of August 2020

of £126.838 million against the current budget of £129.874 million.

3. Approve the £249.193 million increase to the capital programme as

outlined in Section B of the report and approves the re-profiling of current

year budgets to reflect the current forecast.

4. Approve the transfer of £700k from Corporate Insurance Reserves to a

new Ash Die Back Reserve.