To receive and consider the report of the Chief Finance Officer.

1.    Note the full year forecast position for the 2020/21 revenue budget and capital investment programme.

2.    Note the forecast position on the Council's reserves.

3.   Approve the capital programme to be delivered in 2020/21 to 2022/23.

Councillor Peter Wilson, Executive Member (Resources), presented the report of the Chief Finance Officer which sets out the provisional revenue and capital outturn figures for the Council as compared against budgets and efficiency savings targets set for the financial year 2020/21.

In summary, the projected revenue outturn currently shows a forecast underspend of £13k compared to the budget for 2020/21 and the forecast of capital expenditure in 2020/21 is £14.587m. The Council’s budget for 2020/21 includes a savings target of £150k from management of the staffing establishment. Members noted that the full savings of £150k have been achieved.

The Council’s Medium-Term Financial Strategy reported that working balances are currently maintained at £4.0m due to the financial risks facing the Council and the forecast level of general fund balances at 31 March 2021 will be £4.013m.

Decision:

1.    Note the full year forecast position for the 2020/21 revenue budget and capital investment programme.

2.    Note the forecast position on the Council's reserves.

3.    Approve the capital programme to be delivered in 2020/21 to 2022/23.

Reason for recommendation(s):

To ensure the Council’s budgetary targets are achieved.

Alternative options considered and rejected:

None.