Issue - meetings

To consider the report of the Strategic Director (Corporate Resources).

The Strategic Director (Corporate Resources) presented the Review of the Revenue and Capital Budgets in Response to the Covid-19 Pandemic.

The report sought to establish the strategic financial response to Covid-19 and commission the additional work required. Members attention was drawn to the fact that the financial position of the Council was one of unprecedented uncertainty due to the number of unknown variables involved (set out in paragraph 4 of the report) such as the speed and pattern of economic recovery, the impact on business rates and council tax collection and the level of government support for local authorities.

Members discussed the support the Council was providing to the local business community, the level of business rate collection and the cost of the completion of capital projects such as Maison Dieu.

In respect of the regeneration fund Members discussed the importance of it being made available to all parts of the district equally.

RESOLVED: That it be recommended to Cabinet:

(a)  That the remodelling of the revenue and capital budgets, using the assumptions and changes set out in the report, be approved.

(b)  That Officers be instructed to resubmit the Capital Programme to Cabinet with risk assessments against existing and any new projects with the objective of generating net savings/reductions/cancellations of £4.6 million or more as soon as is practicable.

(c)   That, by July/August 2020, Officers be instructed to:

(i)            Develop a programme of asset disposal for further consideration to generate at least £1 million of receipts;

(ii)           Review the options and implications of additional borrowing to finance the Dover District Leisure Centre;

(iii)          Review the current earmarked reserves to determine whether any further sums could be released;

(iv)          Re-present the revenue budget to Cabinet with an indication of statutory and non-statutory services to assist in resource prioritisation and updated projections of budget pressures for 2021/22;

(v)           Present project appraisals, including re-commitments of partner-funded projects, for those capital projects with which Cabinet wishes to proceed.

(d)  That the entire district be included in the scope of the regeneration fund when it is brought forward.

To consider the report of the Strategic Director (Corporate Resources) (to follow).

Responsibility: Portfolio Holder for Finance and Governance

It was agreed:

(a)   That the remodelling of the revenue and capital budgets, using the assumptions and changes set out in the report, be approved.

(b)   That Officers be instructed to resubmit the Capital Programme to Cabinet with risk assessments against existing and any new projects with the objective of generating net savings/reductions/cancellations of £4.6 million or more as soon as is practicable.

(c)   That, by July/August 2020, Officers be instructed to:

(i)             Develop a programme of asset disposal for further consideration to generate at least £1 million of receipts;

(ii)            Review the options and implications of additional borrowing to finance the Dover District Leisure Centre;

(iii)           Review the current earmarked reserves to determine whether any further sums could be released;

(iv)           Re-present the revenue budget to Cabinet with an indication of statutory and non-statutory services to assist in resource prioritisation and updated projections of budget pressures for 2021/22;

(v)            Present project appraisals, including re-commitments of partner-funded projects, for those capital projects with which Cabinet wishes to proceed.