Decision Maker: Cabinet, Council
Decision status: Noted
Is Key decision?: No
Is subject to call in?: No
To report on the impact that Covid-19 has had
on the Council's financial position, and the extent to which
reserves will have to be used during 2020-21.
*RECOMMENDED TO COUNCIL:
I. That the minimum level of reserves be reduced to £4m.
II. That up to £8,070,000 be released from reserves to address the in-year impact of the pandemic.
III. That the Council should work towards achieving a balanced budget over the next 5 years, using reserves in the intervening years to help balance the budget.
IV. That officers continue to pursue income generating initiatives, where there is a sufficiently robust business case, as part of the recovery process.
Report author: Mr John Ward
Publication date: 09/07/2020
Date of decision: 07/07/2020
Decided at meeting: 07/07/2020 - Cabinet