Issue - meetings

The Committee considered an exempt joint report of the Director and Consortium Treasurer concerning the forecast outturn for 2020/21 and the Medium Term Financial Strategy 2021 - 2025. A copy of the report, marked ‘Agenda Item 9’, is filed with these minutes.

The exempt report was not for publication as it contained information relating to the financial or business affairs of a particular person (including the authority holding that information).

The Committee noted that ESPO and Leicestershire County Council were working on the assumption, following the Chancellor of the Exchequer’s announcement on public sector pay, that whilst a pay freeze would not be mandated to apply to local government it was expected that local government employers would follow the central government approach, as had been the case during austerity.

The Director informed Members that the costs set out within the MTFS were dependent on the volume of sales. As sales increased so would the cost of the overall operation. ESPO’s business strategy was set out over ten years to ensure its logistics model became more efficient, aided through the planned creation of a storage warehouse and separate distribution centre.

The Committee were pleased to note the performance of ESPO, despite the pressure from COVID-19.

The Committee was advised that the Finance and Audit Subcommittee had considered and recommended the report for approval at its meeting on 17 February.

RESOLVED:

a)    That approval be given to the Medium-Term Financial Strategy 2021-2025, that incorporates the recommended revenue budget for 2021/22 projecting a surplus of £5.0million.

b)    That the projected provisional revenue budget as set out in paragraph 28 be approved.

c)    That the level of reserves as set out in paragraph 56 be noted and the use of those earmarked fund as set out in the report be approved

d)    That the 2021/22 capital programme as set out in paragraph 52 be approved.

The Subcommittee received an exempt report of the Director and Consortium Treasurer outlining the forecast outturn 2020/21 and the draft MTFS 2021/22 – 2024/25. A copy of the report, marked ‘Agenda Item 9’, is filed with these minutes.

The report was not for publication as it contained information relating to the financial or business affairs of a particular person (including the authority holding that information)

RESOLVED:

That the following be supported for approval by the Management Committee on 17 March 2021.

a)    Agreement of the MTFS which incorporates the recommended revenue budget for 2021/22 totalling a surplus of 5.0million.

b)    Approval of the projected provisional revenue budgets as set out in paragraph 18.

c)     That the level of reserves as set out in paragraph 44 be noted and that the use of those earmarked fund be agreed.

d)    That approval be given to the 2021/22 capital programme as set out in paragraph 40.