Decision details

RESOLVED that Cabinet:-

(a)         Note the current budget position for 2020/21;

(b)         Approve £310,000 of additional investment expenditure within children’s services to support the service improvement plan during 2020/21 as set out in paragraph 32;

(c)         Approve the application of £365,000 additional investment during 2020/21 in the new administrations 100-day plan as set out in paragraph 73;

(d)         Note an additional £350,000 investment in the transformation programme to support development of smarter staff structures;

(e)         Note the additional £251,000 investment in the Estates and Accommodation Project in 2020/21 as approved by Council on the 24 November 2020;

(f)          Approve capital virements as set out in paragraph 107; 

(g)         Note progress made in developing a balanced, robust and lawful budget for 2021/22; and

(h)         Approve the continuation of the current Local Council Tax Support Scheme (LCTSS) into 2021/22 as set out on paragraphs 148 to 150.

RECOMMENDED that Council:-

a)           Approve the capital virement as set out in paragraph 108;

b)           Approve the refinancing of £4.8 million historic infrastructure spending via CIL and S106 funds to support the 2021/22 budget position as referenced in paragraphs 140 to 142 and Appendix D1; and

c)           Approve the Discretionary Business Rates Relief policy of BCP Council as set out in paragraphs 151 to 155 and appendix E.

Voting: Unanimous

Portfolio Holder: Finance and Transformation

Reason

·           To comply with accounting codes of practice and best practice which requires Councils to regularly monitor the annual budget position and have a rolling multi-year MTFP.

·          To provide and update on progress of the financial strategy to support the delivery of a balanced budget for 2021/22.