Issue - meetings

To receive a verbal Financial Monitoring report from the Principal Accountant.

The Principal Accountant provided the Group with a Financial Monitoring update and stated the financial position had improved since the last report and that there had been larger movements at individual service level. He stated that the current position was a good achievement for the authority during the pandemic.

The officer stated that the forecast improvement of £43k now indicated a year end deficit of £46k.

He explained that the lack of leisure income had made up a large proportion of the variance due to lockdown but the planning variant had shown an improvement. He confirmed that the £775k claim for the Government’s Income Compensation scheme had been approved and was expected to be received by the end of the Month. A further claim was due to be submitted.

In response to a question asked, the Principal Accountant stated that he would inform the group what the authority would be bidding on via the Governments Levelling Up fund which had been announced.