Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
To provide an update on the year-end forecast for the 2021/22 County Council’s Revenue and Capital Budgets
Cllr Lynden Stowe asked Cabinet to consider the Council's outturn expenditure for 2021/22, agree recommendations and approve changes to the Capital Programme in 2021/22 and future years.
Having considered all of the information, cabinet noted the report and
1. Note the 2021/2022 revenue budget underspend of £1.533 million and recommend that £1.053 million is transferred to General Reserves, and £480k to the Vulnerable Children’s Reserve in order to provide budget support to SEND as previously approved by Cabinet March 2022.
2. Approve the £8.674 million carry forward of the Covid 19 Emergency Grant funding and transfers and use of carry forwards that total £5.939 million, as detailed in annex 1.
3. Note other technical reserve movements for 2021/22 as set out in annex 3.
4. Note delivery of the £7.393 million of savings against a target of £6.761 million in 2021/22 or 109.35%
5. Transfer £677k to the Business Rates Reserve in relation to the GCC share of the surplus on the Business Rates Retention Pool. In addition, approve a transfer of £834k to the Business Rates Reserve, ring fenced for the Strategic Economic Development Fund also as a result of the Business Rates Pool surplus for 21/22.
6. Note the capital outturn position for 2021/22 of £119.065 million against a budget of £153.909 million, giving in year slippage of £34.844 million.
7. Approve an increase of £13.094 million in the Capital Programme as detailed in section G of the report.
Report author: Deputy Leader and Cabinet Member - Finance and Change
Publication date: 22/06/2022
Date of decision: 22/06/2022
Decided at meeting: 22/06/2022 - Cabinet
Effective from: 30/06/2022
Current call-in Count: 0