Decision details

Revenue and Capital Expenditure Outturn 2021/2022

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 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

 

RESOLVED to:

 

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

Accompanying Documents: