Decision details

A report by the Cabinet Member for Finance and Capital Assets on the Budget 2021-22 and beyond.

CAPITAL PROGRAMME (GENERAL FUND AND HOUSING REVENUE ACCOUNT)

That Cabinet:

i)  Notes the proposed additions to the General Fund capital programme to 2022/23 and its financing as shown in table 1 (paragraph 12);

ii)  Notes the total additions amounting to £22.007M for the General Fund. These schemes are proposed to be included in the capital programme with approval to spend £21.007M plus a further £1.000M (as detailed paragraph 14) which will require subsequent approval to spend;

iii)  Notes the proposed additions amounting to £4.431M to 2022/23 in the HRA capital programme with approval to spend and its financing as shown in table 3 (paragraph 19).

  GENERAL REVENUE FUND

That Cabinet:

iv)  Notes the budget proposals of the Executive as set out in table 2 (paragraph 15), to deliver the manifesto pledges of the Administration;

v)  Notes the revised Medium Term Financial Forecast (MTFF) estimate for 2022/23 as set out in table 5 and paragraphs 23 to 27, with an update of the MTFF to be brought forward during the autumn.

vi)  Notes that the proposed additional net revenue spend for 2021/22 of £2.132M will be funded from the central contingency budget.

  HOUSING REVENUE ACCOUNT

That Cabinet:

vii)  Notes the additions to the Housing Revenue Account budget estimates as set out in table 4 (paragraph 21).

To ensure that the new Administration sets out how resources will align to the new priorities it wants to bring to the city. 

To ensure the on-going recovery from COVID-19 is maximised, it is considered that the budget adjustments and initiatives contained in this paper need to commence at the earliest opportunity, rather than wait for the annual budget setting meeting.