Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
The Chief Officer (Financial Services) submitted a report providing the projected financial health position of the Authority for 2020/21, as at month 2 of the financial year.
In presenting the report the Executive Member for Resources highlighted the need for the Local Authority’s financial position to be stabilised in order to enable the Council to continue to effectively respond to the focus being placed upon the more localised control and management of COVID-19 outbreaks, to enable public services to be restored as appropriate, whilst also enabling the Council to play its role in helping the local economy and infrastructure to recover from the effects of the pandemic.
In addition, the Board received an update and was advised that the revised funding gap for 2020/21 now currently stood at £63.9m, with it being noted that the submitted report detailed the actions being taken by the Council to manage this position as much as it could.
The Chief Executive then provided the Board with an update regarding the discussions which continued with Government on such matters, which would enable the Council to be in a position to formally approach the Government to request further supportive measures after the summer, should a funding gap still remain.
Responding to the introductory comments made, Members reiterated the need for the cross-party approach towards such matters to continue, and in response to a Member’s request, it was undertaken that Group Leaders would continue to be kept informed of the financial position, as appropriate.
In conclusion, it was noted that partner organisations across Leeds had shown their support for the Council and the need for it to be appropriately resourced to ensure it continued to play its key role in serving communities and the city, whilst the Board also noted that the figures within the report remained subject to fluctuation from month to month, given the nature of the current position.
(a) That the projected financial position of the Authority, as at month 2 of the financial year, as detailed within the submitted report, be noted, with the projected impact of COVID-19 on that position also being noted;
(b) That it be noted that a further package of financial support for Local Government has been announced, with it also being noted that funding allocations are yet to be confirmed;
(c) That it be noted that although this additional funding is welcome, the remaining gap will still require significant savings and further support from Central Government.
Publication date: 24/07/2020
Date of decision: 20/07/2020
Decided at meeting: 20/07/2020 - Executive Board
Effective from: 30/07/2020