Decision Maker: Executive
Decision status: Information Only
Is Key decision?: Yes
Is subject to call in?: No
To inform members of the Council’s
financial performance against budget for the period April to
December 2021 along with the forecast position to 31 March
The subject of the decision
The Chief Officer Assets submitted a report which sought to inform Members of the Council’s financial performance against budget for the period April to December 2021 along with the forecast position to 31 March 2022.
Members noted the headline messages at the end of quarter 3 2021/22, being:
(i) Expenditure from the revenue budget, excluding projects funded from earmarked reserves, was forecast to underspend by £4k;
(ii) The projected outturn position would result in a contribution to General Fund reserves of £4k;
Earmarked Reserves Budget
(iii) It was anticipated that £552k of the budgeted use of earmarked reserves would now be spent in future financial years and had therefore been reprofiled within the forecast spend of earmarked reserves in 2021-22;
(iv) After accounting for the reprofiling, a saving of £39k was expected
(v) The capital expenditure budget was forecast to underspend by £3.929m (before carry forwards); £96k net of anticipated carry forward requests;
(vi) Treasury Management activities were carried out in accordance with the Councils treasury management and investment strategies and within the limits established by the approved treasury and prudential indicators for 2021-22;
(vii) No new external borrowing was undertaken during the three months ending 31 December 2021.
Councillor C Sharpe moved the report for noting.
Alternative options considered
The reason for the decision
To inform Members of the Council’s financial performance against budget for the period April to December 2021 along with the forecast position to 31 March 2022.
That the report be noted.
Report author: Gill Brocklebank
Publication date: 24/03/2022
Date of decision: 23/03/2022
Decided at meeting: 23/03/2022 - Executive