Issue - meetings

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.

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.

The final year end position at the end of 2020/21 was an underspend of £1.533 million 0.3% of total budget. Of this underspend £1.053 million would be transferred to General Reserves and £480k to the Vulnerable Children’s Reserve to provide additional support for SEND. This final position was an indication of robust financial management during the year.

The overall position did show a number of significant variances – the areas of major revenue risk during the year continued to relate to the care of the most vulnerable children and adults. Those demand-led budget areas were subject to significant volatility due to changes in client numbers and care needs and would need to be closely monitored and controlled in the new financial year.

In total, £13.798 million of COVID19 related expenditure has been incurred in 2021/22, and a carry forward of £8.674 million requested to fund the continuing cost of recovery from COVID19 pandemic in 2022/23 and 2023/24. The financial impact of COVID19 will continue to be monitored in 2022/23.

The Cabinet Member outlined that, against a target of £6.7m, the council had overachieved at £7.3m.

Members noted the Capital position as well as the general reserves.

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.