Councillor Mark Lowry (Cabinet Member for Finance) presented the Covid-19 Financial Position Statement.

Updated Cabinet on the revenue position statement for 2020/21 and the implications for budget setting for 2021/22. Stated the importance of recognising that this exercise has been undertaken in difficult circumstances.  The Councils budget for 2020/21 was approved by Council only a matter of days before the country was placed into lockdown as a response to tackling the Covid 19 pandemic.  The challenge for the Council in delivering services within the budget was immediately thrown into doubt as the Council grappled with responding to the Pandemic.

To help MHCLG collate and understand the pressures facing local authorities, they have introduced a monthly reporting cycle. As at 31 July 2020, PCC had completed four monthly returns to MHCLG.

Cabinet Agreed to –

1. Note financial position for Plymouth City Council as set out in this report;

2. Work with Strategic and Service Directors to consider options to ensure we minimise any call on our reserves to balance the 2020/21 budget

3. Continue to lobby central government departments to ensure the grant funding and income compensation schemes fully cover the additional costs and lost income incurred by the Council