Council chiefs have vowed to come up with a rescue plan to help Aberdeen out of lockdown.
At a meeting of the city’s urgent business committee, councillors discussed the local authority’s financial resilience and its ability to cope with the ongoing crisis.
A report to the committee revealed the financial impact of the pandemic could reach £113 million in a worst-case scenario.
Now the council has instructed officers to come up with measures which could be implemented to help Aberdeen get moving again and help balance the local authority’s budget.
Their proposals will be held at the next meeting of the committee at the end of June.
Council co-leader Douglas Lumsden said: “A report will come back next month to the urgent business committee on the recovery and how we lead Aberdeen out of the situation we are in just now.
“That is a key thing for us as a council. When that report comes back at the end of June it will give us a decision on how we move forward.
“There is a potential shortfall to the city’s finances and that is still a worry for us because there are concerns around how some funding is going to be distributed.”
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Scottish Government officials have issued advice to councils on capital projects, including having suppliers operate on an open-book basis.
Mr Lumsden added: “We have got to keep sight of the fact we are going to get through this, and when we do we have got to be prepared.
“We have got to make sure we do everything we can to make sure we have a buoyant economy after we come out of lockdown.”
The committee also agreed £100,000 from the city’s Common Good Fund should be donated to the Aberdeen Covid-19 Emergency Hardship Fund.
SNP group leader Alex Nicoll said: “Nobody can say for certain how much the crisis is going to cost but what we do need to be doing is looking at how we are going to deal with eventually getting out of this.
“The financial consequences are going to continue.”
Meanwhile, councillors also approved the Net Zero City Vision, which aims to deliver environmental and economic benefits to the city.
The plan places Aberdeen in a position to respond to environmental issues as a world-leader in the energy sector.
It aims to speed up the city’s transition to becoming a hub for the transition to green energy and towards achieving net zero carbon emissions.
Council co-leader Jenny Laing said: “Green recovery will be a big part of how the Aberdeen economy responds to Covid-19 and the Net Zero Vision already builds on the plans we have in the Local Outcome Improvement Plan.
“Aberdeen is a world-leader in energy technologies providing a major economic stream locally and nationally while already embracing the global energy transition. We have an enviable track record of leading on deploying climate friendly actions including the EOWDC and H2 Aberdeen, and now in working collectively on leading the transition to net zero activities.
“This provides an opportunity for the city to become an exemplar in the energy transition towards net zero and lead the way in how to change in a dynamic and thoughtful way. It also aligns to the work of World Energy Cities Partnership and its work around climate change.
“We look forward to the future and working with public and private sector partner organisations and companies to achieve net zero together.”
Liberal Democrat group leader Ian Yuill said: “There is no argument that we need to move to a net-zero position and the sooner that can happen the better.
“The Liberal Democrats are fully behind the net zero vision.”
Independent alliance group leader Marie Boulton said: “The proposals that officers bring back must reflect the vision and strategy that the administration councillors have set for the future prosperity and wellbeing of Aberdeen and its residents.
“The administration has set out an ambitious future for the city and recognises the opportunities and benefits of the “Green Agenda” locally, nationally and globally.
“Aberdeen has an exceptionally good reputation for the quality of life residents enjoy, a significant reason for this is the holistic approach we have taken in developing the city, with working partners, investing in infrastructure, such as the art gallery, the Music Hall and of course P&J Live.
“A continuing investment in culture, the arts and events is critical if we are to ensure that Aberdeen is seen as a place that can attract and retain businesses and offer a talented workforce the leisure activities of a modern, exciting city.”