A report by the Director of Resources informed of the process for budget setting as a transition year for 2021/22 in the Committee Process. The report described the financial position for 2021/22 which as at Quarter 1 forecast a deficit of £45m, and the actions being put in place to mitigate the gap. The Director updated the Committee that since the report was written the forecast deficit could potentially be as much as £60m.

The report detailed how these actions included a phased approach of 5 stages and included the timeline for the 2021/22 budget setting process of when individual budget proposals were presented to the Policy and Services Committees to the recommendation for approval by the Policy and Resources Committee in February, to Full Council to set the 2021/22 budget.

Resolved - That the Policy and Resources Committee note the transition process for the 2021/22 budget setting process.