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Issue - meetings

Budget monitoring report and funding allocation

Meeting: 16/07/2020 - Executive (Item 740)

740 Budget Monitoring report and funding allocation pdf icon PDF 177 KB

Additional documents:



Reason for decision – as specified in the report.

Other options considered - none.

Conflicts of interest/dispensations granted – none.

Link to the report.




(i)     That the breakdown of the forecast General Fund outturn by individual variance at Appendix 1 of the report and by service area at Appendix 2 of the report be noted.

(ii)          That it be noted that, after the application of COVID-19 government grant funding, there is a forecast net General Fund overspend of (+£24.496m) in 2020/21,  (Section 3 and Table 1 of the report).

(iii)         That the council is facing total COVID-19 related budget pressures of around £62m, and after government grants received to date, a net gap of around £47m (including HRA and potential council tax and business rates income losses), be noted (Paragraph 3.2 of the report).

(iv)         That departments undertake a detailed review of their budgets to assess further scope to reduce COVID-19 budget pressures and/or deliver underspends in other areas be agreed (Paragraph 3.5 of the report).

(v)          That the Public Health and homelessness grants prior year balances in earmarked reserves be allocated against the forecast General Fund overspend, where permissible within the terms of the original grants, be agreed (Paragraphs 4.10 and 4.23 of the report).

(vi)         That departmental cash limits be adjusted to reflect the latest re-profiling of savings, and to regularise any ongoing directorate underspends declared in this report, be agreed (Paragraph 4.32, Table 2 and Appendix 3 of the report).

(vii)        That the forecast in-year HRA deficit of (+£5.490m) be noted (Section 5 and Appendix 2).

(viii)      That the decision for Partners to repay the senior debt on the first housing PFI contract (PFI1) be delegated to the Corporate Director of Housing in consultation with the Corporate Director of Resources and the Executive Member for Housing and Development (Paragraph 5.4  of the report).

(ix)         That the latest 2020/21 to 2022/23 capital programme be noted, and pending more detailed review on an individual scheme basis, that it be noted that the COVID-19 crisis is expected to lead to slippage of at least 20% of the 2020/21 capital programme to future financial years (Section 6, Table 3 and Appendix 4 of the report).



Reason for decision – in order to improve the financial resilience of the council.

Other options considered - none.

Conflicts of interest/dispensations granted – none.