Issue - meetings

BCP Council Finance Update

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Meeting: 27/05/2020 - Cabinet (Item 166)

166 BCP Council Finance Update PDF 426 KB

The country is currently facing the biggest public health emergency for a generation. This will require urgent and decisive action by the council to support its community while also supporting the integrity of the council’s financial position and sustainability.

Additional documents:

Decision:

RESOLVED that Cabinet:-

a) Note the contents of the report and that a further report is scheduled for June Cabinet outlining the progress made in establishing and managing the financial impact of Covid-19;

b) Request that the annual budget for 2020/21 is reviewed and an early budget monitoring report is brought forward to Cabinet in June; and

c) Request that the Corporate Director for Resources brings forward a report outlining the Council’s transformation programme to June Cabinet.

Voting: Unanimous

Portfolio Holder: Finance

Reason

The Covid-19 pandemic has a very significant impact on the council’s finances beyond that currently expected to be supported by central government. Early action has been taken to limit expenditure where possible. Further actions are now needed. There is the prospect of measures to maintain social distancing

continuing for some time with venues remaining closed during periods when higher income levels are normally generated. There is also no certainty that there will not be further periods of disruption related to the outbreak this financial year or in future. The council’s response in maintaining services during the pandemic may also have consequences for the transformation agenda which should be refreshed to take account of the latest developments.

Minutes:

The Portfolio Holder for Finance presented a report, a copy of which had been circulated to each Member and a copy of which appears as Appendix 'B' to these Minutes in the Minute Book.

The Portfolio Holder advised that the country was facing the biggest public health emergency for a generation, and that this required urgent and decisive action by the council to support its community while also supporting the integrity of the Council’s financial position and sustainability.

In presenting the report the Portfolio Holder proposed an amended recommendation in respect of recommendation (b) which was requested to be amended to read:

(b) Request that the annual budget for 2020/21 is reviewed and an early budget monitoring report is brought forward to Cabinet in June.

Further to this the Portfolio Holder advised that the financial position continued to be monitored on a daily basis.

Cabinet Members spoke in support of the report and praised the work of Officers.

The Chairman of the Overview and Scrutiny Board addressed Cabinet highlighting that the Board would be looking at the report at their next meeting in June.