Issue - meetings

To receive a report from the Deputy Chief Executive (S151) considering the initial draft 2019/20 budget and options available in order for the Council to set a balanced budget and agree a future strategy for further budget reductions for 2020/21 onwards.

The Group had before it, and NOTED, a report * from the Deputy Chief Executive (S151) reviewing the revised General Fund budget changes identified and seeking further discussion on any  changes required in order for the Council to move towards a balanced budget for 2019/20.

The draft budget gap for 2019/20 had reduced from £662k to £253k. This was in part due to the provisional settlement received from central Government in December 2018 which had brought in some additional funding such as Business Rates and Levy Account Surplus Draft Allocation. There had also been a reduction in an allowance for vacancies and other salary saving in the Waste Service.

However, it was not expected that the current gap would reduce any further and therefore it was likely that the balance would need to be found through a one off transfer from Ear Marked Reserves. However the underlying issues would need to be addressed and 2021 would present a very challenging set of financial circumstances.

Note: * Report previously circulated; copy attached to the signed minutes.