That Cabinet:
1) Notes the latest resource and spending information and the impact on the emerging budget proposals;
2) Notes the Strategic Director for Resources’ risk assessment on the level of general reserves, as detailed in Appendix A;
3) Supports the creation of a Commercial Risk Reserve to mitigate the financial risks of the Authority’s commercial activity, funded from the temporary saving on the Authority’s borrowing costs as a result of the reprofiling of the capital programme;
4) Agrees to publish, in light of the information provided, their 2021/22 budget resolutions for recommendation to Council on 8 February 2021; and
5) Authorises the Strategic Director for Resources to incorporate the outstanding resource information into the budget resolutions to be considered by Council on 8 February 2021.