Decision details

Quarter 3 Performance and Budget Monitoring

Decision Maker: Policy Committee

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Decisions:

The Director of Finance submitted a report setting out the projected revenue and capital outturn positions for 2021/22 for both the General Fund and the Housing Revenue Accounts as at the end of December 2021 (Quarter 3), as well as performance against the measures of success published in the Council’s Corporate Plan.  The following documents were attached to the report:

 

·       Appendix 1 – Financial Monitoring for Quarter 3

·       Appendix 2 – Corporate Plan Measures for Quarter 3

·       Appendix 3 – Corporate Plan Measures for Quarter 3 (Charts)

·       Appendix 4 – Corporate Plan Projects for Quarter 3

 

The report explained that the forecast General Fund revenue outturn position as at the end of Quarter 3 was an overspend on service expenditure of £7.996m. This included net overspends of £3.148m within the Directorate of Adult Care and Health Services and £4.478m within the Directorate of Economic Growth and Neighbourhood Services, which included £4.223m of costs that were attributable to Covid-19.  It had previously been agreed that the overspend on services be funded through a combination of Covid-19 support grant that was available for 2021/22 and £3.844m of corporate contingencies. The use of this combination of contingencies and one-off resources meant than an underspend of £0.274m was now projected for 2021/22 but such an approach was not sustainable in the medium to longer term and had been addressed as part of 2022/23 budget setting.

 

The report also stated that the Housing Revenue Account (HRA) was projecting an underspend of £2.310m as at the end of Quarter 3, the General Fund Capital Programme was forecast to underspend by £45.457m in 2021/22 and the HRA Capital Programme was forecast to underspend by £16.203m in 2021/22.  £6.096m (30%) of savings had been delivered to date in the financial year, with a further £4.952m (25%) of savings on track to be delivered by March 2022.  £5.638m (28%) of savings were currently categorised as non-deliverable with a further £3.522m (17%) categorised as at risk of delivery.

 

Resolved –

 

That it be noted that:

 

a)    The forecast General Fund revenue outturn position as at the end of Quarter 3 was an underspend of £0.274m;

 

b)    The Housing Revenue Account was forecast to underspend by £2.310m as at the end of December 2021;

 

c)    The General Fund Capital Programme was forecast to underspend by £45.457m;

 

d)    The HRA Capital Programme was forecast to underspend by £16.203m;

 

e)    £6.096m of 2021/22 savings had been delivered with a further £4.952m of savings on track to be delivered by March 2022. £5.638m of savings were currently categorised as non-deliverable with a further £3.522m categorised as at risk of delivery;

 

f)     The performance achieved against the Corporate Plan success measures was as set out in Appendices 2, 3 & 4.

Publication date: 05/04/2022

Date of decision: 07/03/2022

Decided at meeting: 07/03/2022 - Policy Committee

Accompanying Documents: