Issue - meetings

To receive a verbal update on Financial Monitoring from the Group Manager for Finance.

The Deputy Chief Executive (S151) provided the meeting with a verbal report with regard to income and expenditure to date.  He stated that the forecasted deficit for the year had now been reduced to £1,218m an improvement of £285k.  The forecast recognised the 3 tranches of Covid grant from the Government and the furlough monies, but it did not make any allowance for the amounts that would be received under the Income Compensation Scheme which could address the lack of income from the leisure service, car parking remittances and planning applications etc.  Officers were working on the fine details and an emergency budget would be brought before the Cabinet on 1 October.  Further reports would be presented to the PDG’s.

With regard to the Environment portfolio, both grounds maintenance and waste were operating below budget due to salary savings and the fact that recycling prices had improved.