DECISION

1.    To note the Council’s projected outturn position against General Fund, Dedicated Schools Budget, Housing Revenue Account and earmarked reserves for 2021-22, based on forecasts as at 30^th June 2021;

2.    To note the reserves position of the Council is uncertain pending the closure of the statement of accounts for the period 2016 – 2021;

3.    To note the Council’s projected outturn position against General Fund and Housing Revenue Account capital programme approved budgets, based on forecasts as at 30^th June 2021;

4.    To note that there are no equalities implications directly resulting from this report, as set out in Section 4.

Action by:

INTERIM CORPORATE DIRECTOR, RESOURCES (K. BARTLE)

(Head of Strategic Finance (Chief Accountant) (A. Khan)

Councillor Candida Ronald, Cabinet Member for Resources and the Voluntary Sector, introduced the regular update report setting out the Council’s performance against its budget targets up to 30 June 2021.

The Council’s budget was hugely impacted by the Covid-19 pandemic. Additional government grants and use of reserves were covering this in the short-term but there were serious issues about how the Council manages potential ongoing expenditure once government grants ended.

Two risk areas were around issues with collecting council tax and business rates and these major concerns were being monitored. Most planned savings were on track whilst £1.2 million had been identified as not achievable. Capital budgets were being re-profiled to make sure the timetables for spending were correct.

Budgeting for the Covid impact showed expenditure of £38.1million with £39.6million of grants and use of reserves leaving a small surplus of £1.5million which was expected to be used up quickly during the current financial year.

The Mayor noted the presentation and in particular the continued pressures on local government spending from national funding decisions and the pandemic. He proposed the recommendations as set out, these were unanimously approved by the Members present and it was:

RESOLVED

1.    To note the Council’s projected outturn position against General Fund, Dedicated Schools Budget, Housing Revenue Account and earmarked reserves for 2021-22, based on forecasts as at 30^th June 2021;

2.    To note the reserves position of the Council is uncertain pending the closure of the statement of accounts for the period 2016 – 2021;

3.    To note the Council’s projected outturn position against General Fund and Housing Revenue Account capital programme approved budgets, based on forecasts as at 30^th June 2021;

4.    To note that there are no equalities implications directly resulting from this report, as set out in Section 4.