Agenda item

Budget Monitoring 2020/21 Period 6

Summary:

 

 

 

 

 

Options considered:

This report summarises the budget monitoring position for the revenue account, capital programme and reserves statement to the end of September 2020.  The report also provides an update on the financial impact of Covid-19 on the Council’s Financial position.

 

Not applicable.

 

Conclusions:

 

The overall position at the end of September 2020 shows an £1,392,232 underspend for the current financial year on the revenue account, this is however currently expected to deliver a full year overspend of £421,435 which, as per the previous COVID update, is to be funded from reserves if required.

 

Recommendations:

 

 

 

 

 

 

 

 

Reasons for

Recommendations:

It is recommended that Cabinet:

 

1)    note the contents of the report and the current budget monitoring position;

2)    recommend to Full Council the release of £247,083 capital receipts to increase the coastal adaption fund; reinvesting proceeds previously received from the sale of land. 

 

To update Members on the current budget monitoring position for the Council.

 

LIST OF BACKGROUND PAPERS AS REQUIRED BY LAW

(Papers relied on to write the report and which do not contain exempt information)

 

 

System budget monitoring reports

 

 

 

Cabinet Member(s)

Cllr Eric Seward

Ward(s) affected

Contact Officer, telephone number and email: Duncan Ellis, 01263 516330, Duncan.ellis@north-norfolk.gov.uk

 

 

 

 

Decision:

Decision

RESOLVED:

 

1)    note the contents of the report and the current budget monitoring position;

2)    recommend to Full Council the release of £247,083 capital receipts to increase the coastal adaption fund; reinvesting proceeds previously received from the sale of land. 

 

Reason for the decision:

 

To update Members on the current budget monitoring position for the Council.

Supporting documents: