Issue - meetings

That:

1)        the Council's strong financial standing leading up to the COVID-19 crisis as illustrated in the Executive Summary, as set out in the report, be noted;

2)        the significant financial impact of the COVID-19 crisis as illustrated in the Executive Summary be noted;

3)        the overall forecast of the current position of the General Fund revenue budget, Housing Revenue Account (HRA) and Dedicated Schools Grant (DSG), illustrated in the Executive Summary and appendices attached to the report, be noted;

4)        the ongoing work to manage the budget and ensure the financial viability of the Council, as set out in the Executive Summary, be noted;

5)        the revenue implications of capital borrowing for £288k for the purchase of hessian sacks, which  will have the effect of increasing recycling levels and generating a beneficial financial impact far in excess of the cost of borrowing, be approved.

The Executive considered a report setting out the Revenue budget monitoring position at the end of quarter 1 of the current financial year.

The Executive Member for Finance and Housing went through the report and drew Members’ attention to the Council’s strong financial standing at the start of the pandemic, as set out in the executive summary section.  This included healthy non-general reserves that were earmarked for specific expenditure and risks that the Council may face.

Councillor Jorgensen advised the meeting that she had sent the Executive Member for Environment a large number of questions from residents related to the details of the hessian sack scheme and asked Councillor Batth if he would be happy to answer those questions as part of the “Q and A” on the scheme?  Councillor Batth confirmed that he would be happy to respond to those questions.

RESOLVED that:

1)        the Council's strong financial standing leading up to the COVID-19 crisis as illustrated in the Executive Summary, as set out in the report, be noted;

2)        the significant financial impact of the COVID-19 crisis as illustrated in the Executive Summary be noted;

3)        the overall forecast of the current position of the General Fund revenue budget, Housing Revenue Account (HRA) and Dedicated Schools Grant (DSG), illustrated in the Executive Summary and appendices attached to the report, be noted;

4)        the ongoing work to manage the budget and ensure the financial viability of the Council, as set out in the Executive Summary, be noted;

5)        the revenue implications of capital borrowing for £288k for the purchase of hessian sacks, which will have the effect of increasing recycling levels and generating a beneficial financial impact far in excess of the cost of borrowing, be approved.