Decision details

Cabinet considered a report on the Third Quarter Review (Finance) 2020/21.

The report had been considered by the Corporate Overview and Scrutiny Committee at its meeting on 28^th January 2021. Councillor J Clowes, Chairman of the Corporate Overview and Scrutiny Committee, presented the Committee’s comments on the report to Cabinet and asked that they be appended to the Cabinet minutes.

The Portfolio Holder for Environment and Regeneration reported additional funding that was likely to be made available to support the Council in relation to the Public Sector Decarbonisation Scheme and Green Homes Grant, which would require additional recommendations to Council for supplementary capital estimates. Further details were displayed on screen during the meeting and are appended to these minutes.

RESOLVED

That Cabinet

1.    notes the contents of the report, and annex, and the associated impact on reserves, and the Medium Term Financial Strategy, related to the outturn position and the deferral of certain Covid-19 related financial items;

2.    approves the management of any variation to the outturn as follows:

§  Surplus / Deficit in non-Covid-19 related expenditure / income is allocated to the Medium Term Financial Strategy Earmarked Reserve; and

§  Surplus / Deficit in Covid-19 related expenditure / income is allocated to the Covid-19 Earmarked Reserve;

3.    approves the supplementary revenue estimates of £620,000 relating to the Northern Powerhouse 11 grant and £921,000 Restrictions Support grant (Appendix 2 Table 1 to the report);

4.    notes the supplementary estimates approved to date in relation to Covid-19 activity (Appendix 2, Table 2);

5.    approves the supplementary capital estimates relating to schools condition capital grant £589,604, towns fund £750,000 and grant to support our carbon neutral ambition up to the value of £932,661 (Appendix 4, Annex C); and

6.    recommends to Council to approve:

• fully funded supplementary revenue estimates above £1,000,000 relating to Covid-19 grants in accordance with Financial Procedure Rules as detailed in Appendix 2 Table 1.

• supplementary capital estimate of £1,808,000 relating to Best4Business in accordance with Financial Procedure Rules as detailed in Appendix 4, Annex D.

• an additional Supplementary Capital Estimate of up to £3,500,000 from the Public Sector Decarbonisation Fund to further the Council’s carbon neutrality objectives as detailed in the appendix to these minutes.

• an additional Supplementary Capital Estimate in relation to £1,523,750 from The Department for Business, Energy and Industrial Strategy (BEIS) for Green Homes Grant, Local Authority Delivery Scheme Phase 1B (GHG LAD P1B) as detailed in the appendix to these minutes.