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
Cllr Lynden Stowe, Deputy Leader and Cabinet Member for Finance and Change gave an update on the Council’s forecast revenue year end position.
Having considered all of the information. Cabinet noted the report and
1. Note the forecast revenue year end position based on October 2021 (Period 7) forecasts for the 2021/22 financial year is an overspend of £2.076 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 delivery of the £5.668 million of savings against a target of £6.761 million in 2021/22 or 83.83% of target.
3. Note the forecast capital year end position as at the end of September 2021 of £152.768 million against the current budget of £153.180 million.
4. Approve the £987,192 million virement within the AMPS capital programme outlined in Section C
5. Approve the £4.054 million increase to the capital programme - made up of £3.7m for Gloucester City Centre Cycle Spine, £37.8k for Lydney Highway Strategy, £1.5k for Easington Bus Shelter, £300k for Treescape project and £15k for GFRS Light Vehicles (see Section C).
6. Note the £9.242 million increase to the capital programme – made up of £9.122m Levelling Up grant funding towards the Gloucester SW Bypass, Llanthony Road scheme and £120k to purchase a second-hand aerial ladder platform (ALP) funded from capital receipts (see Section C).
Report author: Deputy Leader and Cabinet Member - Finance and Change
Publication date: 22/12/2021
Date of decision: 22/12/2021
Decided at meeting: 22/12/2021 - Cabinet
Effective from: 01/01/2022