Decision details

·         To note the Revenue and Capital forecast position as at Quarter 1

·         To approve virements

·         To approve any amendment in the capital programme delegated to Cabinet

RESOLVED:  That

(1)          the revenue and capital forecast positions set out in paragraphs 1.2 and 1.4 of the report, be noted;

(2)          the grave concerns being expressed at the legacy impact of COVID-19 over the Medium Term Financial Strategy (MTFS) and the work being undertaken on finance sustainability, as set out in paragraphs 2.47 to 2.48 of the report, be noted;

(3)          the proposed additions to the Capital Programme as set out in paragraphs 3.28 to 3.31 of the report, be approved;

(4)          progress on the Council’s Trading Update as at Quarter 1, as detailed in Appendix 6 to the report, be noted.

Reason for Decision:  To report the 2020/21 forecast financial position as at Quarter 1 (30th June 2020), to update Cabinet on trading company performance and to seek approval for Capital Programme adjustments which required Cabinet approval in accordance with the Financial Regulations.

Alternative Options Considered and Rejected:  As set out in the report.

Conflict of Interest relating to the matter declared by Cabinet Member/Dispensation Granted:  None.