Decision details

The Cabinet will be asked to consider the projected position of the Council’s revenue and capital budgets for 2020/21 and, if necessary, consider proposals for in-year adjustments aimed at achieving a balanced budget position at the year end.

Cabinet resolved to:

(i)  Note the projected revenue outturn forecast for the 2020/21 financial year as set out in sections 2 to 4 and Appendix A of the report and the potential impact on the reserves position as set out in section 7 of the report;

(ii)  Note the update on key savings programmes, as set out in section 5 of the report;

(iii)  Note the update on the impact of COVID-19 and the lockdown, as set out in section 6 and 7 of the report; and

(iv)  Approve an additional capital loan facility of up to £2.769m to B&D Energy to bridge the funding gap in relation to Energy tenders as set out in section 9 of the report and, subject to the condition that any third party funding secured reduces the loan amount required by the full funding amount.