Agenda item

To consider the initial draft 2020/21 Budget and options available in order for the Council to set a balanced budget.

The Committee had before it and NOTED the *draft budget report from the Deputy Chief Executive (S151) presented by the Group Manager for Finance.

She informed Members that the present budget gap was £234k and that it was not recommended that reserves were used to plug the gap.

She confirmed that there had been no monies set aside in the budget for future Climate Change specific projects. She explained that a business case and action plan detailing the projects required and costings would need to be agreed and approved.

Members gave consideration to the following:

·         The current year’s budget deficit

·         The cost of the cancellation of the Tiverton Town Centre Regeneration Project due to committed expenditure

·         Renewable energy transactions

·         Major repairs allowance

·         Garage rents

·         Planned maintenance programme for Council Housing Stock

Note: *draft budget report previously circulated and attached to the minutes