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Decision details

Revenue Budget and Capital Programme Monitoring 2020/21 - as at 31/05/2020

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

This report provides the Month 2 monitoring statement on the City Council’s Revenue Budget and Capital Programme for 2020/21.

 

Decision:

9.1

The Executive Director, Resources, submitted a report providing the outturn monitoring statement on the City Council’s Revenue and Capital Budget for 2020/21, as at 31st March 2020.

 

 

9.2

Dave Phillips (Head of Strategic Finance) presented the report, and highlighted that the Council’s 2020/21 revenue budget, as at 31st May 2020, is currently forecast to be overspent by £23.4m.  He added that the vast majority of the forecasted pressure on revenue budgets for this year is due to the impacts of the coronavirus on Sheffield. The Council has estimated that the overall financial cost of issues relating to the COVID-19 pandemic will be upwards of £78m, though this will change as the longer term effects of the virus become better known.

 

 

9.3

RESOLVED: That Cabinet:- 

 

 

 

(a)

notes the updated information and management actions provided by this report and the attached appendix on the 2020/21 Revenue Budget Outturn; and

 

 

 

 

(b)

In relation to the Capital Programme, note the forecast Outturn position described in Appendix 2

 

 

 

9.4

Reasons for Decision

 

 

To record formally changes to the Revenue Budget and the Capital Programme.

 

 

9.5

Alternatives Considered and Rejected

 

 

A number of alternative courses of action are considered as part of the process undertaken by Officers before decisions are recommended to Members.  The recommendations made to Members represent what Officers believe to be the best options available to the Council, in line with Council priorities, given the constraints on funding and the use to which funding is put within the Revenue Budget and the Capital Programme.

 

 

9.6

Any Interest Declared or Dispensation Granted

 

 

 

None

 

 

9.7

Reason for Exemption if Public/Press Excluded During Consideration

 

 

 

None

 

 

9.8

Respective Director Responsible for Implementation

 

 

 

Eugene Walker, Executive Director, Resources.

 

 

9.9

Relevant Scrutiny and Policy Development Committee If Decision Called In

 

 

 

Overview and Scrutiny Management Committee.

 

Report author: David Phillips

Publication date: 20/07/2020

Date of decision: 15/07/2020

Decided at meeting: 15/07/2020 - Cabinet

Effective from: 25/07/2020

Accompanying Documents: