Agenda item

Finance Committee

To note action taken under urgency procedures concerning an in-year budget adjustment associated with funding for Heart of the City.

Minutes:

FINANCE COMMITTEE

 

(Jeremy Paul Mayhew)

10 July 2020

Report of Urgent Action Taken: Funding request to support an extension of Heart of the City’s responsible business programme (and consequent revision to the 2020/21 Budget)

The Court noted action taken under urgency procedures in relation to a budget uplift to facilitate funding for Heart of the City. Heart of the City delivers the City Corporation’s Corporate Strategy Objective 5, points c and d, whilst also working alongside others in the City Corporation to deliver its Responsible Business Strategy and the Social Mobility Strategy.

 

Normally, any request for funding is submitted to the January meeting of the Policy & Resources Committee (and Resource Allocation Sub-Committee) and, following approval of an appropriate sum, is incorporated within the Corporation’s budget submitted to the February meeting of your Finance Committee, and the March meeting of the Court of Common Council.

 

However, in January 2020, the Policy & Resources Committee had asked officers to come back with revised proposals. This was done, and a revised sum was approved at the February meeting. Unfortunately, as a consequence of the month’s delay and the timing around the budget submission, this sum was omitted from the budget. It was not immediately noticed due to the unfolding COVID-19 crisis but became apparent thereafter, and so an in-year budget adjustment was required to facilitate the award of the money.

 

The funding was for core funding of the organisation, primarily covering salaries. As a result of the commitment given by the Policy and Resources Committee in February, the charity continued its operations in 2020-21 in good faith.

              

Approval was, therefore, granted by the Finance Committee and the Court of Common Council under urgency procedures to agree to one-year’s funding of Heart of the City for 2020/21, totalling £202,000, to be met from City’s Cash, resulting an in-year revision to the 2020/21 budget.

 

Resolved – That the action taken under urgency procedures be noted.

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