Issue - meetings

Report of the Cabinet Member for Finance and Change on the Revenue and Capital Outturn for 2021-22.

Report of the Cabinet Member for Finance and Change seeking approval of the Revenue and Capital Outturn 2021/22.

Minor amendments to report set out below:

2. COMMUNITIES, CULTURE & HERITAGE PORTFOLIO Council page 34, COVID outturn variance for Cultural Services to read 0.13F

5. ENVIRONMENT PORTFOLIO  Council page 42

COVID pressures movement from Qtr 3 to read 0.02F

RESOLVED

General Fund – Revenue

(i)  Notes the General Fund revenue outturn for 2021/22 is a balanced position after transfer of £10.93M surplus to reserves, as outlined in paragraph 4 and in paragraph 2 of Appendix 1. 

(ii)  Notes the performance of individual Portfolios in managing their budgets as set out in paragraphs 3 to 6 of Appendix 1 and Annex 1.1.

(iii)  Agrees the budget carry-forward requests totalling £4.12M as outlined in paragraph 8 of Appendix 1 and detailed in Annex 1.3.

(iv)  Delegates responsibility to the Executive Director for Finance, Commercialisation & S151 Officer, after consultation with the Cabinet Member for Finance & Change, to approve business cases for the release of the carry forwards.

(v)  Notes the performance of the Property Investment Fund (PIF) as detailed in paragraphs 9 to 11 of Appendix 1 and Annex 1.4.

Housing Revenue Account

(vi)  Notes the HRA revenue outturn for 2021/22 as outlined in paragraph 6 and paragraphs 21 to 23 of Appendix 1 and Annex 1.6.

Capital Programme

(vii)  Notes the actual capital spending in 2021/22 for the General Fund was £69.31M and for the HRA was £33.07M, as outlined in paragraphs 10 and 11 below and detailed in paragraphs 2 to 5 of Appendix 2.

(viii)  Notes the capital financing in 2021/22 as shown in table 3 of Appendix 2.

(ix)  Approves the revised capital programme for 2021/22 to 2026/27 and its financing as summarised in paragraph 10 of Appendix 2 and detailed in Annex 2.2.

(x)  Approves the latest prudential indicators for the revised capital programme as detailed in Annex 2.3.

Report of the Cabinet Member for Finance and Change on the Revenue and Capital Outturn for 2021-22.

DECISION MADE: (CAB 22/23 33985)

On consideration of the report of the Cabinet Member for Finance and Change and having noted the amendment to the report as set out below:

2. COMMUNITIES, CULTURE & HERITAGE PORTFOLIO   Cabinet page 30 & Council page 34

5. ENVIRONMENT PORTFOLIO  Cabinet page 38 & Council page 42

Cabinet agreed the following:

i)  Notes the General Fund revenue outturn for 2021/22 is a balanced position after transfer of £10.93M surplus to reserves, as outlined in paragraph 4 and in paragraph 2 of Appendix 1.

ii)  Notes the performance of individual Portfolios in managing their budgets as set out in paragraphs 3 to 6 of Appendix 1 and Annex 1.1.

iii)  Recommends Council to approve the budget carry-forward requests totalling £4.12M as outlined in paragraph 8 of Appendix 1 and detailed in Annex 1.3 and recommends Council to delegate responsibility to the Executive Director for Finance, Commercialisation & S151 Officer, after consultation with the Cabinet Member for Finance & Change, to approve business cases for the release of the carry forwards.

iv)  Recommends Council to note the performance of the Property Investment Fund (PIF) as detailed in paragraphs 9 to 11 of Appendix 1 and Annex 1.4.

v)  Notes that the level of General Fund balances at 31 March 2022 was £10.07M and the level of earmarked reserves was £101.89M as detailed in paragraph 18 and 19 of Appendix 1 and Annex 1.5.

vi)  Notes the accounts for the Collection Fund in 2021/22 detailed in paragraphs 24 to 30 of Appendix 1 and Annex 1.7.

Housing Revenue Account

vii)  Notes the HRA revenue outturn for 2021/22 as outlined in paragraph 6 and paragraphs 21 to 23 of Appendix 1 and Annex 1.6.

Capital Programme

viii)  Notes the actual capital spending in 2021/22 for the General Fund was £69.31M and for the HRA was £33.07M, as outlined in paragraphs 10 and 11 below and detailed in paragraphs 2 to 5 of Appendix 2.

ix)  Notes the capital financing in 2021/22 as shown in table 3 of Appendix 2.

x)  Notes the revised capital programme for 2021/22 to 2026/27 and its financing as summarised in paragraph 10 of Appendix 2 and detailed in Annex 2.2.

xi)  Notes the latest prudential indicators for the revised capital programme as detailed in Annex 2.3.