The report of the Director of Regeneration and Place provided a summary of the projected year-end revenue and capital position for Economy, Regeneration and Development Committee as at the end of Quarter 3 (December 2020) of the 2020/21 financial year. The Council’s response to the Covid-19 pandemic presented financial risk due to uncertainty and fluidity in the external environment.

The overall financial position for the Council remained challenging, and a number of actions had been in progress to mitigate the overall forecast position presented at quarter 3, including limiting spending to essential areas of service delivery only, with Corporate Directors supported to mitigate the risk of overspending.

RESOLVED – That:

(1)  The adverse year-end forecast position presented at Quarter 3 of £0.714m be noted; and

(2)  The impact of funding and expenditure as a direct consequence of Covid-19 be noted, including the additional funding sources which have been identified but, as yet, not received.