Decision details

Financial Monitoring Report 2021/22

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 Tim Harman, Cabinet Member for Public Health and Communities presented the report on behalf of Cllr Lynden Stowe gave an update on the Council’s forecast revenue year end position at the end of May 2021 which was a £4.570 million overspend all of which is non Covid-19 related.

 

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

 

RESOLVED to:

 

1.      Note the forecast revenue year end position based on actual expenditure as at the end of April 2021 and May 2021 (Period 2) forecasts for the 2021/22 financial year is an overspend of £4.570 million all of which related to non Covid-19 expenditure, as we are forecasting a balanced position in relation to Covid-19 expenditure and income.

 

2.      Notes the forecast capital year end position as at the end of May 2021 of £158.187 million against the current budget of £158.187 million.

 

3.      Approves the recommended transfer of £1million from the earmarked minimum wages reserve, which is no longer required, to General Reserves.

 

4.      Approves the £4.005 million decrease to the capital programme as outlined in section B of the report.

 

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

Publication date: 21/07/2021

Date of decision: 21/07/2021

Decided at meeting: 21/07/2021 - Cabinet

Effective from: 29/07/2021

Accompanying Documents: