To consider the report of the Corporate Director of Transformation and Resources.
Consideration was given to the report of the Head of Finance, Procurement and Commercial Property as contained on pages 407 to 414 of the Book of Reports which provided a summary of the General Revenue Account budget position for the next financial year. The report had previously been considered by Cabinet held on 14 January 2020.
The Deputy Borough Treasurer attended the meeting and provided an overview of the report referring to details as set down in the report and appendices.
RESOLVED: That the report be noted.
(Relevant Portfolio Holder: Councillor A Yates)
Councillor Yates introduced the report of the Head of Finance, Procurement and Commercial Services which provided a summary of the General Revenue Account budget for the next financial year.
In reaching the decision below, Cabinet considered the details as set out in the report before it and accepted the reasons contained therein.
RESOLVED A. That the financial position for 2020-21 and later years be noted, and consideration be given to how a balanced budget can be achieved.
B. That the Portfolio Holder for Resources and Transformation be given delegated authority to submit firm proposals to Council on 26 February 2020 to enable the budget to be set.
C. That call-in is not appropriate for this item as it is to be submitted to the next meeting of the Executive Overview and Scrutiny Committee on 30 January 2020.