Issue - decisions

RESOLVED that Cabinet:-

(a)          Note the progress in the development of the budget mitigation strategy as a result of Covid-19 pressures; and

(b)          Continue to lobby Government for additional funding to reduce the projected budget gap caused by the outbreak. 

Voting: Unanimous

Portfolio Holder: Finance

Reason

The council has embedded sound financial and risk management protocols as well as a culture of scenario and options appraisal. This culture is needed now more than ever with the greater level of uncertainty arising from the pandemic.

The scale of income loss in 2020/21 is projected to be so significant as to threaten the financial viability of the council and concerted action must be taken to reduce expenditure to rebalance the budget.