Decision details

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.