Issue - meetings

To receive a verbal Financial Monitoring update

The Corporate Manager for Finance provided the Group with a financial monitoring update.

He explained that the financial position had improved and although it was an overspend of £46k it was a remarkable achievement due to the extraordinary year of the pandemic.

He stated that the Council was awaiting £775k from the Governments Income Compensation Scheme and that a further claim was being submitted.

The officer explained that he had issued an initial briefing to the Governments Budget statement and confirmed that the furlough scheme had been extended, the £20 increase in Universal Credit was to continue and that there was an extension to the Business Rates Relief scheme. He explained that restart grants were being introduced for between £6 - £18k, dependant on the type of business.