Decision details

Quarter 3 Financial Performance Report 2020-21

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Purpose:

To provide information on the forecast full year financial position of the Council.

Decision:

Cabinet noted the report and appendix; and,

 

RESOLVED to Recommend to FULL COUNCIL:

 

1)    That the income received from the NNDR and Council Tax income compensation scheme be carried forward in reserve to cover the deficits recognised in future years (as detailed in paragraph 1.6 of the report).

 

2)    That the NNDR S31 grant for expanded retail relief and nursery reliefs received in 2020-21 be carried forward in reserve to cover the deficits recognised in 2021-22 from the lost income as a result of these NNDR reliefs (as detailed in paragraph 1.6 of the report).

 

3)    That the below budget NNDR levy payment at the end of the year be carried forward in reserve to cover the deficits recognised in future years from the lost income as a result of the pandemic (as detailed in paragraph 1.6 of the report).

 

Reasons for the decision:

To provide timely information to Members on the overall financial position of the Council, enabling resource re-allocation to priorities where necessary and to smooth the effects on the unusual collection fund deficits.

Alternative options considered:

1)    That the report and appendix be noted and recommend to Full Council that:

a)    The income received from the NNDR and Council Tax income compensation scheme be carried forward in reserve to cover the deficits recognised in future years (as detailed in paragraph 1.6); and

b)    The NNDR S31 grant for expanded retail relief and nursery reliefs received in 2020-21 is carried forward in reserve to cover the deficits recognised in 2021-22 from the lost income as a result of these NNDR reliefs (as detailed in paragraph 1.6); and

c)    The below budget NNDR levy payment at the end of the year is carried forward in reserve to cover the deficits recognised in future years from the lost income as a result of the pandemic (as detailed in paragraph 1.6).

 

Option 2 - Do nothing.

 

Report author: Alison Chubbock

Publication date: 01/02/2021

Date of decision: 01/02/2021

Decided at meeting: 01/02/2021 - Cabinet

Accompanying Documents: