Issue - meetings

Budget 2020/21

Meeting: 08/10/2020 - Council (Item 99)

99 Budget 2020/21 pdf icon PDF 129 KB

Cabinet, at its meeting on 1 October 2020, will consider the report of the interim head of finance on changes to the 2020/21 budgets to reflect the financial impact of the Coronavirus pandemic, and other matters, on the council.

The report, which Cabinet will consider on 1 October 2020, is attached.

 

Cabinet’s recommendations will be circulated to all councillors.

 

Additional documents:

Minutes:

Council considered Cabinet’s recommendations, made at its meeting on 1 October 2020, on changes to the 2020/21 budgets to reflect the financial impact of the Coronavirus pandemic, and other matters, on the council.

RESOLVED: to 

 

1.    agree that the net revenue expenditure budget for 2020/21 be increased to £16.177 million, with the increase to be funded from revenue reserves; and 

 

2.    agree the additions to the capital programme to be funded from capital receipts, as detailed in Appendix 2 of the interim head of finance’s report to Cabinet on 1 October 2020.

 


Meeting: 01/10/2020 - Cabinet (Item 35)

35 Budget 2020/21 pdf icon PDF 129 KB

To consider the interim head of finance’s report. 

Additional documents:

Minutes:

Cabinet considered the interim head of finance’s report on the 2020/21 budget.  The report recommended changes to 2020/21 budget to reflect the financial impact of the Covid-19 pandemic and other matters on the council. 

 

The Cabinet member for finance reported that for many years there had not been a need to review the budget mid-year, but the impact of Covid-19 had reduced income (such as car parking) and increased expenditure (on support for vulnerable residents, local communities and local businesses).  The additional cost to the council had been £3.7 million.  Part of this extra cost was offset by government grant support.  However, at the time of writing the report it was estimated that the budget needed to be increased from £15.121 million to £16.177 million, with the resultant funding gap of £1.056 million, which would need to be funded from the council’s reserves.  It was possible that if the Covid-19 pandemic continued, there might be a need for further in-year budget changes. 

 

Scrutiny Committee had reviewed the report and supported the proposals. 

 

Cabinet supported the proposal to recommend Council to use reserves to fund the gap as this was what reserves were for. 

 

RECOMMENDED: to Council on 8 October 2020 to:

 

(a)      agree that the net revenue expenditure budget for 2020/21 be increased to £16.177 million, with the increase to be funded from revenue reserves; and

 

(b)      agree the additions to the capital programme to be funded from capital receipts, as detailed in Appendix 2 of the interim head of finance’s report to Cabinet on 1 October 2020. 


 

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