Issue - meetings

Report of Director of Finance

Purpose of report

This report summarises Cherwell District Council’s (CDC’s) forecast revenue and capital outturn position for 2020/21 as at September 2020.

Recommendations

The meeting is recommended:

1.1      to note the contents of the report.

Resolved

(1)       That the forecast revenue and capital outturn position for 2020/21 as at September 2020 be noted.

The Committee considered a report from the Director of Finance that summarised Cherwell District Council’s forecast revenue and capital outturn position for 2020/21, as at September 2020.

The Assistant Director – Finance explained that this report was the first budget monitoring report since the in-year budget savings of £2.4 million had been agreed.

The Committee was advised that there was currently a projected underspend of £0.3 million. Although costs relating to Covid-19 had created an overspend of £3.4 million, this had been offset against a reduction in business as usual costs of £3.7 million.

In response to questions from the Committee, the Assistant Director – Finance advised that slippage for capital projects would be included as part of the out-turn report to Executive during the Financial year end process.

Resolved

(1)       That the forecast revenue and capital outturn position for 2020/21 as at September 2020 be noted.