Melton Borough Council

Melton Borough Council’s Provisional Outturn 2019/20

Published Tuesday, 28th July 2020

The Cabinet, at their meeting on the 15 July, received the provisional Outturn 2019/20 which provides an overview of the Council’s financial performance over the previous year.

With regard to the General Fund, which is the main account used to provide services to Council Tax payers, the Council has underspent marginally against its approved budget. Whilst this is good news, there continues to be budgetary pressures on Council’s finances with having to call on reserves.

The Council is monitoring closely the financial impact of COVID-19 in terms of both additional expenditure being incurred and income shortfalls. To date the extra funding provided by Government is unlikely to meet the full impact of this and without further Government support the Council is likely to have to call on reserves to balance the 2020-21 budget.

Latest estimates indicate a potential unfunded financial impact of between £865k and £1.35m, however news is awaited of a further allocation of funding from the Government. Future losses are also likely to materialise as a result of the difficulty in collecting business rates, Council Tax and any sundry debts as the community recovers from the crisis.

The Council’s Housing Revenue Account, which accounts for the Council’s spend on its council housing, was also underspent by £496k due to a number of key work streams being delayed and moving into 2020/21

The Council’s Portfolio Holder for Corporate Finance and Resources, Cllr Ronnie de Burle states: “The Council has again demonstrated it has a good grip on its finances by ending the financial year with an underspend against its budget. However, like with many in our community we face some significant financial challenges ahead as a result of the financial implications of COVID-19. We must continue to manage a strong hold on the finances as we move forward if we are to maintain our future financial sustainability. Further financial support from the Government will be essential to meet our expenditure and income losses and we will continue to lobby to ensure Melton receives the funding it needs.”

 

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For more information please contact:

D K Garton CPFA
Director for Corporate Services

Melton Borough Council
Parkside
Station Approach
Burton Street
Melton Mowbray
Leicestershire
LE13 1GH

Telephone: 01664 502502
Email: contactus@melton.gov.uk