On 9
February 2021, Cabinet:-
(i) Noted
the City Council’s 2020/2021 forecast at 31 December 2020 of a net underspend
of £8.9m, comprising an overspend on Covid-19 of £4.8m, offset by non-Covid
underspends of £13.7m;
(ii) Approved
in principle that any non-ring fenced underspend at year-end is transferred to
the Delivery Plan Reserve to provide enabling investment;
(iii) Noted
that the Government’s Income Loss scheme is estimated to provide £21.9m of
additional funding;
(iv) Noted that
the Government also announced £100m of national funding to support leisure
centres. The Council and its Leisure
providers have submitted a claim of £2.9m, which was submitted as per the 15
January 2021 deadline;
(v) Noted
the Council is forecasting a non-covid net underspend of £13.7m, which is an
improvement of £12.5m for non covid-19 costs since Quarter 2;
(vi) Noted
that Directorates are reporting that £20.0m of the £27.1m savings targets are
either delivered or on track. This
represents 73.7% of the total target and is a £5.5m improvement on quarter 2
with Directorates continuing to work towards ensuring that these savings are
brought on track and are delivered;
(vii) Noted
the forecast capital expenditure in 2020/2021 of £519.4m;
(viii) Approved
the allocations of Policy Contingency as set out in paragraph 4.12 and noted the
allocations set out in paragraph 4.11 of the report;
(ix) Noted
the Treasury Management and Investment Portfolio Reports that are included in
Appendix A of the report;
(x) Approved
the writing off of debts over £0.025m as described in paragraph 4.9 of the
report.
THE DEADLINE
FOR CALL IN IS 1600 HOURS ON MONDAY 15 FEBRUARY 2021.