Agenda and decisions

Summary:

Options considered:

This report follows the previous COVID-19 financial update provided to Members in May, at which time a net budget deficit of c£1m was being forecast for the 2020/21 financial year. The anticipated year end deficit is now forecast to have reduced significantly from the previous report to around £0.4m although it should be noted this is still based on a number of assumptions about future funding and income pressures and assumptions regarding further government support which are discussed in more detail within the body of the report.

This second report provides a further update and follows the government announcement made on 2 July in respect of additional support towards lost income. It contains high level proposals for revising the 2020/21 budget to ensure that budget monitoring for the remainder of the year is meaningful, whilst also considering the impact on the Council’s medium term financial position.

The coronavirus COVID-19 pandemic continues to represent a significant challenge for the District Council which will continue to impact on the Council’s resources and budget during 2020-21 and future years.

This report sets out the current high level forecasts relating to the COVID-19 pandemic taking account of the latest central government support package. There are a number of options considered based on the recommendations made within the previous report in respect of capital resources, budget re-prioritisation, savings and reserves.

Conclusions:

The country continues to face an unprecedented public health crisis which will have impacts on the Council’s expenditure and income during the current financial year and future budgets It will continue to be important to continue to engage with Government, MPs and other stakeholders to campaign for adequate and sustainable funding for the District so that we can continue to deliver vital services to residents, businesses and visitors and this includes the current year and beyond.

The current pandemic demands very different ways of working and will require ongoing review and consideration of current and future priorities as well as different and innovative service delivery models. Looking beyond the immediate impacts, the overall level of uncertainty means the financial environment remains extremely challenging for the foreseeable future, none of which is helped by the ongoing delays to the various local government funding reviews. The assumptions upon which both the Medium Term Financial Strategy (MTFS) and the 2020/21 budget are based have been significantly undermined by the current crisis.

The current projected budget position (c£0.4m deficit 2020/21) is constantly changing and therefore the high level projections contained within this report must be seen in this context and could be subject to significant change depending on further announcements over the coming months. The report contains high level proposals for revising the 2020/21 budget to ensure that budget monitoring for the remainder of the year is meaningful.

Recommendations:

Reasons for

Recommendations:

It is recommended that Cabinet note and agree:

1.              The current package of financial support being provided to the Council by the government to support its response to COVID-19 and the continued importance  ...  view the full agenda text for item 9.

Summary:

This report sets out the Treasury Management activities actually undertaken during 2019/20 compared with the Treasury Management Strategy for the year.

Options Considered:

This report must be prepared to ensure the Council complies with the CIPFA Treasury Management and Prudential Codes.

Conclusions:

Treasury activities for the year have been carried out in accordance with the CIPFA Code and the Council’s Treasury Strategy.

Recommendations:

That the Council be asked to RESOLVE that The Treasury Management Annual Report and Prudential Indicators for 2019/20 are approved.

Reasons for Recommendation:

Approval by Council demonstrates compliance with the Codes.

Cabinet Member(s): Cllr Eric Seward

Ward(s) affected: All

Summary:

This is an annual report detailing the council’s collection performance and debt management arrangements for 2019/20

The report includes a:

§  A summary of debts written off in each debt area showing the reasons for write-off and values.

§  Collection performance for Council Tax and Non- Domestic Rates.

§  Level of arrears outstanding

§  Level of provision for bad and doubtful debts

Recommendations:

1)    To approve the annual report giving details of the Council’s write-offs in accordance with the Council’s Debt Write-Off Policy and performance in relation to revenues collection.

2)    To agree the Debt Write Off Policy (shown in Appendix 2)

3)    To agree the use of High Court Enforcement Agents if considered necessary (shown in Appendix 3)

All

Eric Seward

All

Contact Officer, telephone number, and e?mail:

Sean Knight 01263 516347

Sean.Knight@north-norfolk.gov.uk

1) To approve the annual report giving details of the Council’s write-offs in accordance with the Council’s Debt Write-Off Policy and performance in relation to revenues collection.

2) To agree the Debt Write Off Policy (shown in Appendix 2)

3) To agree the use of High Court Enforcement Agents if considered necessary (shown in Appendix 3)

Summary:

Options considered:

This report details the decisions taken by Senior Officers under delegated powers from 19^th June to 24^th July 2020.

Not applicable.

Recommendations:

Reasons for

Recommendations:

To receive and note the report and the register of officer decisions taken under delegated powers.

The Constitution: Chapter 6, Part 5, sections 5.1 and 5.2. details the exercise of any power or function of the Council where waiting until a meeting of Council or a committee would disadvantage the Council. The Constitution requires that any exercise of such powers should be reported to the next meeting of Council, Cabinet or working party (as appropriate)

Delegated decision forms – as completed by the relevant officer

Cabinet Member(s)

All

Ward(s) affected

All

Summary:

Options considered:

The tenant concerned approached the Council in 2019 with regards to extending the term of the ground lease as the lease had 4 remaining years. This was to give them greater certainty over continuing their business at that site particularly as they had recently invested in their premises.

To continue with the existing lease. As the lease only has a relatively short period till it expires, it offers no security to either the tenant to enable them to invest in their premises nor the Council in terms of an ongoing rental income.

Conclusions:

This proposal seeks to support the Council’s financial strategy by optimising income generation through granting a longer term ground lease and by including provisions incorporated within that lease to review the rent.

Recommendations:

Reasons for

Recommendations:

That Cabinet agrees:

·         Surrender of the existing lease

·         Re-grant of new 20 year lease as set out in the exempt Heads of Terms

The surrender and re-grant of a ground lease will ensure the continued receipt of rental income for a further 20 year period.

Cabinet Member(s)

Cllr G Hayman

Ward(s) affected