Budget Control Report April 2020 - JUN20/CAB/06
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
This report provides Cabinet with the forecast for 2020/21 as at April 2020 budgetary control position.
Cabinet considered the report and RESOLVED to note:
1. The Budgetary Control position for 2020/21 as at April 2020 is a forecast overspend of £5.877m against budget. This includes the current estimated impact of COVID-19 and the additional COVID-19 Response funding;
2. Included in this is forecast overspend is £18.3m of additional pressure due to COVID-19, as reported to the Ministry of Housing Communities and Local Government, within the monthly returns, as outlined in section 4 of the report.
3. The reduction in collection rates in respect of Council Tax and National Non-Domestic Rates, in comparison to the levels achieved in 2019/20, as outlined in section 4 of the report;
4. The additional funding that has been made available and allocated to the business community due to COVID-19, as outlined in section 4 of the report;
5. The requirement to continue to lobby for additional funding to minimise the effects of COVID19 on Peterborough, as outlined in section 4 of the report;
6. The financial and HR controls the Council is continuing to operate, as outlined in section 4 of the report;
7. The key variance analysis and explanations are contained in Appendix A to the report.
Publication date: 22/06/2020
Date of decision: 22/06/2020
Decided at meeting: 22/06/2020 - Cabinet
Effective from: 26/06/2020