Decision details

Financial Monitoring Report

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes

Decision:

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 to: -

 

1.    Note the forecast revenue year end position based on actual expenditure as at the end of July 2020 and August 2020 (Period 5) forecasts for the 2020/21 financial year including Covid-19 forecast is an overspend of £9.948 million. The forecast excluding Covid-19 is an overspend £6.532 million.

2.    Note the forecast capital year end position as at the end of July 2020 of £136.279 million against the revised budget of £129.699 million.

3.    Approve the £1.659million increase to the capital programme as outlined in Section C of the report.

4.    Note progress on delivery of the £6.384 million of savings against a target of £10.545 million in 2020/21 or 60.54%.

 

Report author: Cabinet Member - Finance and Change

Publication date: 14/10/2020

Date of decision: 14/10/2020

Decided at meeting: 14/10/2020 - Cabinet

Effective from: 22/10/2020

Accompanying Documents: