Decision details

2020/21 Q3 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 December 2020.

 

Alternative options considered:

 

None.

 

The reason for the decision:

 

It was a legal requirement under S25 of the Local Government Act 2003 to set a balanced budget and monitor the financial position throughout the year.

 

The decision:

 

That Cabinet approves and recommends to Council:-

 

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

 

(2)    that any COVID-19 funding received from Government to support expenditure that is not used in 2020/21 is carried forward into 2021/22 as detailed in paragraph 4.2 of the report;

 

(3)    that reserves will be used to cover the loss of income created by the COVID-19 pandemic if sufficient funds are not received from Government at the year-end as detailed in paragraph 4.9 of the report;

 

(4)    the total movement of the Economic Development Fund of £465,914 at paragraph 8.2 and to note that the Economic Development Fund remaining balance to be allocated at paragraph 8.5 of the report is £225,638;

 

(5)    the transfer of funds detailed in paragraph 8.2 of the report from the Economic Development Fund of £1,200,000 to the Council Tax-Payers Reserve in paragraph 8.6 of the report; and

 

(6)    the allocation from the One-Off Fund at paragraph 8.7 of the report of £101,150.

Reason Key: Affects more than 2 wards;

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: 11/02/2021

Date of decision: 09/02/2021

Decided at meeting: 09/02/2021 - Cabinet

Accompanying Documents: