Issue - meetings

To consider the report of the Cabinet Member for Performance and Resources seeking Members to note year-end forecasts, and the financial pressures on the Council during the 2nd Quarter ended 30^th September 2021.

RESOLVED it is noted that:

(1)      the forecast year-end position for the financial year is currently an increase to the General Fund balance of £173k against a budgeted increase of £123k

(2)      the details of specific budgetary issues identified by officers and the actions being taken to address those issues

(3)      the current level of Capital expenditure as shown in Appendix 2 of the report

(4)      the financial implications of COVID-19 and the level of economic recovery from the effects of the pandemic will continue to be monitored and reported alongside any grant funding provided to mitigate the spend or lost income.

Cabinet considered the report of the Cabinet Member for Performance and Resources that sought Members to note year-end forecasts and the financial pressures on the Council during the 2^nd Quarter ended 30^th September 2021.

The Cabinet Member for Performance and Resources introduced the report and advised that the increase in the General Fund (2.1(1)) represented the best estimate of the year end position.  The Cabinet Member for Culture and Leisure commented that although COVID-19 had negatively impacted his portfolio this year, officers had been working hard to be well prepared for the next.  The Cabinet Member for Planning and Housing Strategy drew Members’ attention to the favourable position regarding the budget for homelessness (5.16) for which he thanked the Head of Communities.  The Cabinet Member for Planning and Housing Strategy reminded Members that the actions underlying the figures impacted people’s lives and could be transformational for them.  The Cabinet Member for Environment contrasted the favourable forecast on the waste contract of £184K (15.18) with the negative position of previous years.  He commented that this was a magnificent achievement and attributed it to improved recycling processes.

RESOLVED it is noted that:

(1)      the forecast year-end position for the financial year is currently an increase to the General Fund balance of £173k against a budgeted increase of £123k

(2)      the details of specific budgetary issues identified by officers and the actions being taken to address those issues

(3)      the current level of Capital expenditure as shown in Appendix 2 of the report

(4)      the financial implications of COVID-19 and the level of economic recovery from the effects of the pandemic will continue to be monitored and reported alongside any grant funding provided to mitigate the spend or lost income.