The Portfolio Holder for Resources presented a report regarding a review of the Council’s Medium Term Financial Strategy in the light of the impact of Covid-19 on its General Fund Revenue Budget.
The Chair wished to put on record the Executive’s thanks to all SBC staff for the work they had carried out throughout the Covid-19 pandemic thus far and to the Finance Team for the outstanding way they had worked with officer colleagues and Elected Members to develop the package of measures which would enable the Council to respond to the financial challenges posed by the pandemic during the course of this year.
It was RESOLVED:
1. That the use of earmarked Regeneration capital receipts of £1.726Million, as outlined in Paragraph 4.9.8 of the report, be approved.
2. That the changes to the Capital Programme totalling £125,000, as summarised in Paragraph 4.9.10 of the report, be approved.
3. That the holding of vacant posts totalling £152,110, as set out in Paragraph 4.9.12 of the report, be approved.
4. That the changes to the 2020/21 General Fund budget totalling £463,820, as set out in Paragraph 4.9.13 of the report, be approved.
5. That the changes to the approved growth budgets totalling £49,940, as set out in Paragraph 4.9.15 of the report, be approved.
6. That the holding of the Business Rates allocated reserve totalling £455,000, as set out in Paragraph 4.9.16 of the report, be approved.
7. That the measures set out in Paragraph 4.10.3 of the report be approved.
8. That the measures set out in Section 4.11 of the report be approved.
9. That the development of a priority list of services, as set out in Paragraph 4.12.11 of the report, be approved.
Reason for Decision: As contained in report.
Other options considered: As contained in report.