Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
This report outlines the forecast financial
position of the organisation at the end of 2020/21 based on the
information known at the end of quarter 3
a) Notes the forecast underspend of £9.271m for the 2020/21 financial year on the Council’s revenue budget, and the expected impact of an additional £11,526m will have on the Council’s un-ringfenced reserves.
b) Notes there is a forecast shortfall in delivery of the 2020/21 savings requirement with a value of £2.581m.
c) Notes the decreases to the approved 2020/21 capital programme of £29.378m since the programme was last reported in Quarter 2.
d) Approves the carry forward of the reprofiled spend on the capital programme of £31.996m in 2020/21 into future years.
e) Approves the request to create a new earmarked reserve to recognise the impact on WCC of funding school deficits resulting from forced academisation; as noted in paragraph 2.5.9.
f) Acknowledges that at the date of writing this report, the national and local response to Covid-19 is an ever-charging landscape. As such, it is important to note the inevitability of significant changes to the forecast position. This will be driven by changes to Covid-related income and expenditure pressures and also Covid funding changes.
Report author: Andrew Healey, Isabelle Moorhouse
Publication date: 29/01/2021
Date of decision: 28/01/2021
Decided at meeting: 28/01/2021 - Cabinet
Effective from: 04/02/2021