Decision details

Councillor Peter Butlin (Deputy Leader – Finance and Property) briefed Cabinet on the key elements of the published report. As part of his introduction Councillor Butlin highlighted that it will be necessary to use some reserves as part of the financial management around Covid-19. In addition, he noted that there is expected to be slippage on projects owing to the impact of the pandemic.

Councillor Keith Kondakor emphasised the usefulness of separating out Covid-19 related projects. He noted that the pandemic had led to an acceleration of some projects such as the new telephony system. Concerning the additional funding that has been made available for the reallocation of road space, Councillor Kondakor observed that where projects are unable to progress, the funding should be reassigned. On this latter point Cabinet was informed that the funding for reallocation is set to come from central government.

Resolved:

That Cabinet:

a) Notes the net spend of £272.8m in 2019/20 and the consequent revenue

underspend of £14.2m for the organisation at the end of the One Organisation

Plan 2020;

b) Notes the explanations and mitigating actions put forward by Services for

variations to budgets, and the implications on the Medium-Term Financial

Strategy, as set out in paragraph 3.2;

c) Notes the capital spend in 2019/20 of £109.6m and its financing;

d) Approves the carry forward of specific services’ revenue budget from 2019/20, to support the delivery of the Council Plan in 2020/21, as outlined in paragraph 5.7 and Appendix O; and

e) Notes the current reserves position for the organisation, and the implications of diverting funds held for longer term plans and risk mitigation to meet any unfunded Covid-19 costs.