Decision details

Budget 2020-21 - Financial Impact of Covid-19

Decision Maker: Executive

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes

Decisions:

The subject of the decision

 

The Head of Financial Services submitted a report which sought to update members on the budget position to inform of the financial impact of Covid-19 on the authority.

 

Councillor J Lister moved the recommendations as per the report and thanked officers for their hard work in pulling the budget report together under such difficult circumstances.

The motion was seconded by Councillor A Pitcher.

The motion was unanimously agreed.

 

Alternative options considered

 

The report presented proposals to the potential budget pressures  arising from the Covid-19 pandemic.

 

The reason for the decision

 

To inform of the financial impact of the Covid-19 pandemic on the authority budget position.

 

The decision

 

Resolved

 

That –

 

1)  The report be noted

2)  Delegate to the S151 Officer in consultation with the Portfolio Holder for Finance and Legal, the increasing of the expenditure budget for the Business Grants – Discretionary Scheme for small businesses by the amount of grant allocated of £1,995,000

3)  Delegate to the S151 Officer in consultation with the Monitoring Officer and Portfolio Holder for Finance and Legal the variation of income payment terms and any associated contractual variations

4)  Reserves be protected by not allowing carry forwards of underspend into this financial year except in exceptional circumstances

5)  Members review the position on a monthly basis and give delegated authority for the S151 to release additional sums from General Fund balances to address the budget position.

 

Publication date: 30/06/2020

Date of decision: 24/06/2020

Decided at meeting: 24/06/2020 - Executive

Effective from: 03/07/2020

Accompanying Documents: