The Cabinet considered a report of the Executive Director (Finance and Resources) providing an updated assessment of the local financial impact of Covid-19 and a range of high level scenarios to illustrate the potential scale of the financial challenge over the short and medium term.

Resolved:-

1.    That the Council’s updated assessment of the local financial impact of the unprecedented challenges that has been caused by the pandemic, be noted.   

2.    That the scale of the potential financial challenge summarised in the submitted report, be noted.

3.    That the Council’s Medium Term Financial Strategy is reviewed and a range of options are developed to ensure continuing financial sustainability.

4.    That the Cabinet receive regular reports to future Cabinet meetings, which will provide updated assessments on our financial position and outline any changes to our strategy and range of assumptions.

Reason for decision:

To provide an update on the financial impact of Covid-19

Other Options:

None.

Note: This is an Executive Function

Eligible for Call-in to: All Three Scrutiny Committees.

Executive Member: Cllr Gilbert