Issue - meetings

RECOMMENDED TO CABINET:

(1) The Committee recommends to Cabinet to note the report;

(2) The Committee recommends to Cabinet to approve the changes to the 2021/22 General Fund budget, as identified in table 3 and paragraph 8.2, a £510k decrease in net expenditure;

(3) The Committee recommends to Cabinet to approve the changes to the 2022/23 General Fund budget, as identified in table 3 and paragraph 8.2, a total £238k increase in net expenditure.

REASON FOR DECISION: Members are able to monitor, make adjustments within the overall budgetary framework and request appropriate action of Services who do not meet the budget targets set as part of the Corporate Business Planning process.

Audio Recording:

The Service Director – Resources presented the report entitled Third Quarter Revenue Budget Monitoring 2021/22 and highlighted the following points:

·         This report is heading for Cabinet and is asking for any notes or comments from Members of this Committee;

·         Table 3 Page 273 sets out a summary of significant variances and whether they are expected to be an impact on next years’ 2022/23 budget;

·         Paragraph 8.11 and table 5 provide an overall total of the impact of COVID-19 in terms of additional expenditure and loss income;

·         Table 6 notes that the General Fund Balance is increased compared to the beginning of the year and forecast of the end of year previously – large contribution coming from other reserves.

Councillor Keith Hoskins proposed and, following a vote, it was:

RECOMMENDED TO CABINET:

(1) The Committee recommends to Cabinet to note the report;

(2) The Committee recommends to Cabinet to approve the changes to the 2021/22 General Fund budget, as identified in table 3 and paragraph 8.2, a £510k decrease in net expenditure;

(3) The Committee recommends to Cabinet to approve the changes to the 2022/23 General Fund budget, as identified in table 3 and paragraph 8.2, a total £238k increase in net expenditure.

REASON FOR DECISION: Members are able to monitor, make adjustments within the overall budgetary framework and request appropriate action of Services who do not meet the budget targets set as part of the Corporate Business Planning process.