Decision details

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

Cllr Lynden Stowe provided an update on the year-end forecast for the 2021/22 County Council’s Revenue and Capital Budgets.

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

RESOLVED to:

1. Note the forecast revenue year end position based on February 2022 (Period 11) forecasts for the 2021/22 financial year, which is an underspend of £640k all of which relates to non-Covid-19 expenditure. The Covid-19 related expenditure and income outturn is forecast to be a balanced position.

2. Approve one-off funding of £480k to support the Education, Health and Care plans (EHCP) and Education Psychology (EP) service, funded from general reserves. The short-term one-off investment will place the service in a stronger position to undertake its service transformation programme and prepare for the Local Area SEND Inspection anticipated in 2023.

3. Approve the acceptance of the Homes England capital grant of £1.5m via Tewkesbury Borough Council for M5 Jct.9 development costs should we be successful in the bid.

4. Approve, in principle, the acceptance of the Active Travel Fund Tranche 3 DfT grant whilst awaiting confirmation of its award and value. Any funding will have to be accounted for before the end of March 2022.

5. Note the forecast capital year end position as at the end of January 2022 of £130.023 million against the current budget of £153.425 million.

6. Approve the recommended transfer of £4.7 million of the Local Council Tax Support Grant to the Rates Retention Reserve as referred to later in this report.

7. Approve the £70k decrease to the capital programme as outlined in

Section B.