Decision details

2020/21 Q1 Revenue Monitoring Report

Decision Maker: Cabinet

Decision status: For Determination

Is Key decision?: Yes

Is subject to call in?: No

Decisions:

The subject of the decision:

 

This report provided an update on the revenue budget position of the Council and the reserve funds at the end of June 2020.

 

Alternative options considered:

 

None.

 

The reason for the decision:

 

To comply with S25 of the Local Government Act 2003 regarding setting a balanced budget and monitoring the financial position throughout the year.

 

The decision:

 

That Cabinet approves and recommends to Council that:-

 

(1)     the budget remains at £9,269,670 as detailed in paragraph 3.2 of the report;

 

(2)     the revised 2019/20 Revenue Outturn and position on the Council Tax Payers Reserve is a reduction of £150,539 to £1,086,421 detailed at paragraph 5.2 of the report;

 

(3)     the total allocation of the Economic Development fund of £507,960, leaving £481,316 at paragraph 9.4 of the report;

 

(4)     the allocation from the Council Tax Payers Reserve at paragraph 9.5 of the report of £600,000;

 

(5)     the transfer of £125,000 from the One Off Fund to Make a Difference Fund at paragraph 9.6 of the report;

 

(6)     the allocation from the One Off fund at paragraph 9.7 of the report of £506,740; and

 

(7)     the expenditure of £350,000 to support the professional advice fees for the Vehicle/Company Structure at paragraph 9.8 of the report.

Reason Key: Expenditure > £50,000;

Wards Affected: All Wards;

Other reasons / organisations consulted

None

Consultees

None

Contact: Louise Branford-White, Director of Finance (s151 Officer) Email: louise.branford-white@hambleton.gov.uk.

Report author: Louise Branford-White

Publication date: 11/09/2020

Date of decision: 08/09/2020

Decided at meeting: 08/09/2020 - Cabinet

Accompanying Documents: