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Decision details

Croydon Renewal Plan and amendments to the 2020/21 General Fund Budget

Decision Maker: Cabinet

Decision status: Recommmend Forward to Council

Is Key decision?: No

Is subject to call in?: No

Decision:

The Leader of the Council delegated authority to the Cabinet to make the following decisions:

 

RESOLVED: To

 

1.    Note the latest forecast revenue budget overspend of £50.3m detailed in section 3 of the report.

 

2.    Approve the savings options of £27.9m listed in section 5 of the report to reduce the forecast overspend this year, and amend the 2020/21 budget to include the additional in year savings.

 

3.    Agree that a formal approach is made to the Ministry of Housing, Communities and Local Government to seek a capitalisation direction to enable the 2020/21 budget to be balanced.

 

4.    Agree to the development of Croydon’s Renewal Plan, to deliver a sustainable balanced budget over the medium term, and to provide an update to Cabinet in November 2020.

 

5.    Note the in year review of the Capital Programme and agree that a review of the future Capital programme is undertaken and to provide an update to Cabinet in November 2020.

 

6.    Agree that a strategic review of the Council’s group of companies and entities is undertaken and to delegate to the Executive Director of Place the scope and terms of that review, and to provide an update to Cabinet in November 2020.

 

RESOLVED: To recommend to Council to

 

1.    Note the latest forecast revenue budget overspend of £50.3m detailed in section 3 of the report.

 

2.    Approve the savings options of £27.9m listed in section 5 of this report to reduce the forecast overspend this year, and amend the 2020/21 budget to include the additional in year savings.

 

3.    Agree that a formal approach is made to the Ministry of Housing, Communities and Local Government to seek a capitalisation direction to enable the 2020/21 budget to be balanced.

 

4.    Agree to the development of Croydon’s Renewal Plan, to deliver a sustainable balanced budget over the medium term, and to provide an update to Full Council in November 2020.

 

5.    Note the in year review of the Capital Programme and agree that a review of the future Capital programme is undertaken and to provide an update to Full Council in November 2020.

 

6.    Agree that a strategic review of the Council’s group of companies and entities is undertaken and to delegate to the Executive Director of Place the scope and terms of that review, and to provide an update to Council in November 2020.

Report author: Lisa Taylor

Publication date: 29/09/2020

Date of decision: 21/09/2020

Decided at meeting: 21/09/2020 - Cabinet

Accompanying Documents: