Issue - meetings

To consider a report of the Corporate Director, Corporate & Support Services and Cabinet Member for Resources Commissioning & Governance.

The purpose of the report is to provide a summary of the Quarter 1 revenue forecast outturn incorporating the business as usual forecast with an update on the financial impact of COVID19 reported previously in the COVID19 Financial Impact and Response Update report to this Scrutiny Committee on 14 July 2020. The report also provides an update on the Dedicated Schools Grant, Housing Revenue Account (HRA), Collection Fund and updates to the Capital Programme.

The Scrutiny Committee is invited to note the report.

Officer Contact: Jonathan Davies on 0161 218 1025 or email: jonathan.davies@stockport.gov.uk

The Cabinet Member for Resources, Commissioning and Governance submitted a report (copies of which had been circulated) providing a summary of the Quarter 1 revenue forecast outturn incorporating the business as usual forecast with an update on the financial impact of Covid-19 reported previously in the Covid-19 Financial Impact and Response Update report which was submitted to the Scrutiny Committee on 14 July 2020. The report also provided an update on the Dedicated Schools Grant, Housing Revenue Account (HRA) Collection Fund and updates to the Capital Programme.

The following comments were made/issues raised:-

·         It was reported that as part of the Covid-19 support, the Government had allowed Collection Fund deficits to be spread over three financial years to smooth the impact on the General Fund rather than incurring the full deficit in 2021/22.

·         The alignments presented in the section on ‘Virements Presented for Approval by Cabinet’ were alignments from one Cabinet portfolio to another.

·         A Member requested that the non-cash limit forecast be broken down by items. The forecast deficit was due to Covid-19 and mainly consisted of an assumption that no dividend would be received from the Manchester Airport Group, additional insurance costs and additional costs relating to Highways.

·         The resources held in reserves were earmarked to support the funding of specific investments and projects which aligned to the Council’s longer term ambitions and priorities. Redirecting these resources would impact significantly in the achievement of these.

RESOLVED – That the report be noted.

To consider a report of the Cabinet Member for Resources Commissioning & Governance.

The purpose of the report is to provide a summary of the Quarter 1 revenue forecast outturn incorporating the business as usual forecast with an update on the financial impact of COVID19 reported previously in the COVID19 Financial Impact and Response Update report to CRMG on 14 July 2020. The report also provides an update on the Dedicated Schools Grant, Housing Revenue Account (HRA), Collection Fund and updates to the Capital Programme.

Cabinet is asked to:

·         Approve the virements to the Revenue Budget;

·         Note the Cash Limit and Non-Cash Limit forecast positions for 2020/21 as at Quarter 1;

·         Note the HRA, DSG and Collection Fund forecast positions for 2020/21 as at Quarter 1;

·         Note the forecast position for the 2020/21 Capital Programme; and

·         Note the changes to the Capital Programme and re-phasing of schemes during Quarter 1.

Officer contact: Jonathan Davies on 0161 218 1025  or email: jonathan.davies@stockport.gov.uk

The Deputy Leader of the Council and Cabinet Member for Resources, Commissioning & Governance (Councillor Tom McGee) submitted a report (copies of which had been circulated) inviting the Cabinet to consider an update on the 2020/21 revenue forecast outturn and Capital Programme at the end of Quarter 1.

The Cabinet Member stated that the report also incorporated the business as usual forecast with an update on the financial impact of COVID19.

RESOLVED – That in relation to the Quarter 1 2020/21 Budget Monitoring Update, the Cabinet Meeting has:-

·         Approved the virements to the Revenue Budget;

·         Noted the Cash Limit and Non-Cash Limit forecast positions for 2020/21 as at Quarter 1;

·         Noted the HRA, DSG and Collection Fund forecast positions for 2020/21 as at Quarter 1;

·         Noted the forecast position for the 2020/21 Capital Programme; and

·         Noted the changes to the Capital Programme and re-phasing of schemes during Quarter 1.