Issue - meetings

Report of Councillor P Parkin, Portfolio Holder for Finance.

RESOLVED

That Cabinet noted the budget monitoring position for October to December 2021 (Quarter Three), as set out in the report.

REASONS FOR DECISION - To inform Cabinet of the financial position of the Council following the third quarter’s Budget Monitoring exercise for the General Fund, the Housing Revenue Account, Capital Programme and Treasury Management activity.

OTHER OPTIONS CONSIDERED AND REJECTED - None. The report provided information about the financial position against the Council’s previously approved budget.  

Please note that this was not a Key Decision and so can be implemented with immediate effect by officers.

The report to Cabinet updated Members on the Council’s General Fund, the Housing Revenue Account and the Capital Programme for the third quarter of the 2021-22 financial year.  The report also provided an update on the Council’s Treasury Management activity and in particular, on the loans, repayments and investments which had been made. 

Cabinet heard how the General Fund was currently forecast to be underspent. The report explained the reasons for this. In particular, Members were informed about lower employment expenditure due to staffing vacancies, additional Leisure Service income and lower than expected Council Tax Administration costs.

Cabinet considered the continued impact of the Coronavirus (Covid-19) pandemic on the Council’s services. The report explained the support which had been provided by Government to help offset this impact.

Members discussed the report. They noted the robust control of the Council’s budget that had been maintained throughout the financial year, and the progress which had been made towards achieving service transformation and other efficiency measures. Members supported this progress and recognised the important contribution it would make towards addressing the Council’s underlying forecast budget deficits.

RESOLVED - That Cabinet noted the budget monitoring position for October to December 2021 (Quarter Three), as set out in the report.

REASONS FOR DECISION - To inform Cabinet of the financial position of the Council following the third quarter’s Budget Monitoring exercise for the General Fund, the Housing Revenue Account, Capital Programme and Treasury Management activity.

OTHER OPTIONS CONSIDERED AND REJECTED - None. The report provided information about the financial position against the Council’s previously approved budget.