Issue - decisions

Quarter 1 Budget Monitoring Report

11/09/2020 - 2020/21 Quarter 1 Budget Monitoring Report



a)       Notes the forecast overspend of £3.364m for the 2020/21 financial year on the Council’s revenue budget.


b)       Notes there is a forecast under-delivery of the 2020/21 savings requirement to the value of £2.995m.


c)       Approves the transfer of £8.000m revenue underspend in Corporate Services to reserves to provide some capacity to phase the need to deliver additional savings to balance the Medium Term Financial Strategy.


d)       Notes the increases to the approved 2020/21 capital programme of £37.370m since the programme was last reported in March 2020, as part of approved changes totalling £53.900m to the cost and funding of schemes across the length of the programme.


e)       Approves the carry forward of the reprofiled spend on the capital programme of £23.710m in 2020/21 into future years.