5 Financial Monitoring Report 2021/22 PDF 201 KB
Decision:
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 January 2022
(Period 10) forecasts for the 2021/22 financial year is an overspend of
£946k 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 £5.717 million of savings against a target of £6.761
million in 2021/22 or 84.6% of target.
3. Note the forecast capital year end position as at the end of December
2021 of £137.910 million against the current budget of £153.404 million.
4. Approve the £1.041 million increase to the capital programme as
outlined in Section C.
Minutes:
Cllr Lynden Stowe provided an update on the year-end forecast for the 2021/22 County Council’s Revenue and Capital Budgets.
The forecast revenue year end position based on January 2022 (Period 10) forecasts for the 2021/22 financial year was an overspend of £946k all of which is non Covid-19 related.
A balanced position was forecast in relation to Covid-19 expenditure and income.
The largest non-Covid-19 budget variance was the £8.893 million forecast overspend in Children and Families – this overspend was partially offset by the £6.524 million underspend in Technical & Countywide. The overspend in Children and Families reflected the continuing pressure on external placements. Social care staffing and disability services were also over-spending.
Capital –Theforecast outturn position for 2021/22 is £137.910 million, against the budget of £153.404 million, giving a forecast in-year slippage of 15.494 million.
Having considered all of the information. Cabinet noted the report and
RESOLVED to:
1. Note the forecast revenue year end position based on January 2022
(Period 10) forecasts for the 2021/22 financial year is an overspend of
£946k 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 £5.717 million of savings against a target of £6.761
million in 2021/22 or 84.6% of target.
3. Note the forecast capital year end position as at the end of December
2021 of £137.910 million against the current budget of £153.404 million.
4. Approve the £1.041 million increase to the capital programme as
outlined in Section C.