Issue - meetings

This report includes 2021/22 budget monitoring information as at the end of December 2021. The projected outturn for the revenue account is a balanced position.  

The projection includes an overspend of £9.1 million within services and the transformation programme. The application of largely one-off central resources can balance this position, including the release into the revenue account of the Covid pressures grant tranche 5 with the balance of £3.3 million carried forward in reserves.    

The updated 2021/22 projections for reserve movements, the capital programme and housing revenue account (HRA) are also included.

RESOLVED that Cabinet approves the capital virements as set out in paragraph 78; and

RECOMMENDED that Cabinet request Council approve the capital virements as set out in paragraph 79.

Voting: Unanimous

Portfolio Holder: Leader of the Council

Reason

To comply with accounting codes of practice and best practice which requires councils to regularly monitor the annual budget position. To comply with the council’s financial regulations regarding budget virements.

The Leader of the Council presented a report, a copy of which had been circulated to each Member and a copy of which appears as Appendix 'C' to these Minutes in the Minute Book.

Cabinet was advised that the report includes 2021/22 budget monitoring information as at the end of December 2021, and that the projected outturn for the revenue account is a balanced position.

Cabinet was informed that the projection includes an overspend of £9.1 million within services and the transformation programme, and that the application of largely one-off central resources can balance this position, including the release into the revenue account of the Covid pressures grant tranche 5 with the balance of £3.3 million carried forward in reserves.    

In addition Cabinet was advised that the updated 2021/22 projections for reserve movements, the capital programme and housing revenue account (HRA) are also included.

RESOLVED that Cabinet approves the capital virements as set out in paragraph 78; and

RECOMMENDED that Cabinet request Council approve the capital virements as set out in paragraph 79.

Voting: Unanimous

Portfolio Holder: Leader of the Council