Peterborough City Council's Financial Position - MAY20/CAB/108
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
The purpose of this report is to provide an update on the financial impact of the Covid-19 pandemic and the work that Peterborough City Council is undertaking, in liaison with its wider Peterborough and Cambridgeshire partners, to address the challenges faced.
The Cabinet considered the report and RESOLVED to consider on a monthly basis the financial implications of COVID19 on the Council in the short, medium and long term and to note:
· the significant financial implications that COVID-19 is having on the Council, including the current estimated cost of £18.3m in 2020/21 which exceeds the current £11.0m of funding made available from Government (£5.3m originally and £5.7m on the 18th April);
· the likely ongoing financial implications in future years, and that current savings plans must continue to be delivered where possible to prevent further deterioration in the financial position;
· the lobbying already underway with Government over the financial position;
· the financial packages being delivered by the Council and approves the proposed financial support to communities; and
· the arrangement in place with the Cambridgeshire and Peterborough Combined Commissioning Group for people coming out of hospital and into care.
Reasons for the decision:
The requirement to monitor Council spending and ensure that effective control mechanisms are in place to fund and report on emergency situations.
Alternative options considered:
Interests and Nature of Interests Declared:
COVID-19 Guidance from Government Departments
Publication date: 11/05/2020
Date of decision: 11/05/2020
Decided at meeting: 11/05/2020 - Cabinet
Effective from: 15/05/2020