To consider the recommendations from the meeting of the Cabinet held on 31st March 2021.
Financial Monitoring Report – Quarter 3 2020/21
The Portfolio Holder for Finance and Enabling presented the Financial Monitoring Report – Quarter 3 2020/21. Members were advised that the Council was anticipating a deficit of £774,000 by the end of the financial year. However, there remained £786,000 of the £1.255 million that the Council had received in Covid-19 grant funding from the Government which could be used to help address this gap. Members were also informed that a further tranche of grant funding had been announced by the Government and Bromsgrove District Council was due to receive £411,000 in this contribution.
During consideration of this item, further information was requested about the Schools Financial Literacy Programme and potential for this scheme to be rolled out to all secondary schools in the District. The Portfolio Holder for Finance and Enabling explained that 2 schools had participated in the scheme the previous year and 2 different schools would be participating in the next year.
The recommendations in respect of the Financial Monitoring Report – Quarter 3 2020/21 were proposed by Councillor G. Denaro and seconded by Councillor K. May.
1) an increase to the Capital programme 2020/21 of match funding from PCC for digital upgrade of CCTV of £19,000 be approved;
2) the increase in the capital programme of £30,000 for 2021/22, £20,000 2022/23 for Welfare and business improvements at Bromsgrove Sporting be approved; and
3) an increase to the revenue budget by £4,000, to be funded by reserves to help fund a school’s financial literacy programme, be approved.