6 MID YEAR REVENUE REPORT 2021/22 PDF 1 MB
To receive Report No. 146/2021 from the Portfolio Holder for Finance, Governance and Performance, Change and Transformation.
Decision:
In consultation with Cabinet, Councillor K Payne, Portfolio Holder for Finance, Governance and Performance, Change and Transformation:
1) Noted the revenue forecast at the of September as per section 3.3
2) Noted the changes to the approved budget as per section 3.1 and Appendix A
3) Noted that the projected deficit for 22/23 was estimated to be £580k which was less than the £1m target set by Council in February 2021
4) Noted that the revenue budget outlook beyond 22/23 remained challenging with the financial gap estimated at £1.7 - £2.8m.
5) Approved the budget timetable for 22/23 as per section 8.3 of the report.
Minutes:
Report No. 146/2021was introduced by Councillor K Payne, Portfolio Holder for Finance, Governance and Performance, Change and Transformation. The purpose of the report was to provide all Members with an update on the revenue budget position for 21/22 and the future outlook and in particular progress on closing the financial gap which stood at £2.7m for 22/23 (at the time the Council set its original budget in February 2021). Councillor Payne drew the Cabinets attention to the £400,000 underspend in Adult Social Care and £410,000 in Childrens Services through changes in working practice, a windfall of £551,000 won against a Social Care residency case in Cambridgeshire and £130,000 underspend on resourcing.
During discussions the following points were noted:
RESOLVED:
In consultation with Cabinet, Councillor K Payne, Portfolio Holder for Finance, Governance and Performance, Change and Transformation:
1) NOTED the revenue forecast at the of September as per section 3.3
2) NOTED the changes to the approved budget as per section 3.1 and Appendix A
3) NOTED that the projected deficit for 22/23 was estimated to be £580k which was less than the £1m target set by Council in February 2021
4) NOTED that the revenue budget outlook beyond 22/23 remained challenging with the financial gap estimated at £1.7 - £2.8m.
5) APPROVED the budget timetable for 22/23 as per section 8.3 of the report.