Issue - meetings

Cabinet considered the Money Matters report setting out an update on the county council's 2020/21 revenue and capital financial position, as at the end of September 2020, and an updated medium term financial strategy (MTFS) covering the period 2021/22 to 2023/24.

The report also referred to the unprecedented uncertainty in relation to future local government funding, the increasing financial pressures felt by Covid-19 and the impact these would have on the county council's budget.

In presenting the report, members passed on their thanks to all officers for their hard work and commitment in maintaining the council's finances, especially during the current pandemic.

Resolved: That;

  i.  The current forecast underspend of £2.017m on the revenue budget in 2020/21, be noted;

  ii.  The revised funding gap of £78.791m covering the period 2021/22 to 2023/24 as set out in the revised financial outlook forecast for the council, be noted;

  iii.  The contents of the county council's reserves position, be noted; and

  iv.  The revised 2019/20 capital delivery programme of £157.929m as presented within the body of the report and the forecast outturn of £128.475m, be noted.