Decision details

Financial Monitoring Report

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

To provide an update on the year-end forecast for the 2021/22 County Council’s Revenue and Capital Budgets

Decision:

Cllr Lynden Stowe, Deputy Leader and Cabinet Member for Finance and Change gave an update on the Council’s forecast revenue year end position at the end of September 2021 which was a £4.027 million overspend all of which was non Covid-19 related. A balanced position was forecast in relation to Covid-19 expenditure and income.

 

Having considered all of the information. Cabinet noted the report and

 

RESOLVED to:

 

1. Note the forecast revenue year end position based on September 2021 (Period 6) forecasts for the 2021/22 financial year is an overspend of £4.027 million all of which relates to non Covid-19 expenditure, as we are forecasting a balanced position in relation to Covid-19 expenditure and income.

 

2. Note the forecast capital year end position as at the end of August 2021 of £153.790 million against the current budget of £157.873 million.

 

3. Approve the £451k increase to the capital programme as outlined in Section B of the report and approves the re-profiling of current year budgets to reflect the current forecast.

 

Report author: Deputy Leader and Cabinet Member - Finance and Change

Publication date: 10/11/2021

Date of decision: 10/11/2021

Decided at meeting: 10/11/2021 - Cabinet

Effective from: 18/11/2021

Accompanying Documents: