RESOLVED –

1.         that the financial impact of Covid-19 and the work being done to balance the budget be noted.

2.         that Cabinet recommends to Council that the Director of Finance be authorised to make the necessary adjustments to individual budgets to reflect the expenditure and loss of income arising from Covid-19 contained in the report, including the expenditure savings set out in Appendix 1 and the capital programme changes set out in Appendix 2.

3.         that Cabinet recommends to Council the use of Earmarked Reserves as set out in Appendix 3 in order to create a Recovery Fund and that Council delegates the approval of expenditure from the Fund to the Managing Director in consultation with the Mayor.

Please note this decision is not eligible for call-in as it is due to be considered at Council on 14 July 2020.